Question 1.6: Balance Sheet Using the following data for Chickadee Travel ......

Financial Accounting [EXP-43430]

Balance Sheet

Using the following data for Chickadee Travel Service as well as the statement of owner’s equity shown in Example Exercise 1-5, prepare a balance sheet as of April 30, 2012.

Accounts receivable $31,350

Accounts payable 12,200

Cash 53,050

Land 80,000

Supplies 3,350

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Chickadee Travel Service
Balance Sheet
April 30, 2012

Assets		Liabilities
Cash	$ 53,050	Accounts payable	$ 12,200
Accounts receivable	31,350	Owner’s Equity
Supplies	3,350	Adam Cellini, capital	155,550
Land	80,000	Total liabilities and owner’s equity	$167,750
Total assets	$167,750	Total liabilities and owner’s equity	$167,750

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