Date ASSETS LIABILITIES OWNER'S EQUITY Cash Supplies Equipment 1 150,000 150,000 2 (20,000) 20,000 3 (112,500) (112,500) 4 5,000 5,000 5 (15,000) (15,000) 6 (53,000) (53,000) 7 (8,000) (8,000)​

Initial Balance:Cash = 150,000Liabilities = 0Owner’s Equity = 150,000Step 1Assets = 150,000, Liabilities = 0, Equity = 150,000Step 2 (–20,000 Cash, +20,000 Supplies) Cash = 130,000 Supplies = 20,000 Total Assets = 150,000 Liabilities = 0 Equity = 150,000Step 3 (–112,500 Cash, +112,500 Equipment): Cash = 17,500 Supplies = 20,000 Equipment = 112,500 Total Assets = 150,000 Liabilities = 0 Equity = 150,000Step 4 (+5,000 Cash, +5,000 Owner’s Equity): Cash = 22,500 Supplies = 20,000 Equipment = 112,500 Total Assets = 155,000 Liabilities = 0 Equity = 155,000Step 5 (–15,000 Cash, –15,000 Equity): Cash = 7,500 Supplies = 20,000 Equipment = 112,500 Total Assets = 140,000 Equity = 140,000Step 6 (–53,000 Cash, +53,000 Liabilities): Cash = –45,500 (negative balance means borrowed money) Supplies = 20,000 Equipment = 112,500 Total Assets = 87,000 Liabilities = 53,000 Equity = 34,000Step 7 (–8,000 Cash, –8,000 Equity): Cash = –53,500 Supplies = 20,000 Equipment = 112,500 Total Assets = 79,000 Liabilities = 53,000 Equity = 26,000

Answered by BrainlyModIsBusy | 2025-08-26