Just before Henderson Laboratories opened for business, Eugene Henderson, the owner, had the following assets and liabilities.

Cash $ 41,400
Laboratory equipment 76,500
Laboratory supplies 7,700
Loan payable 16,000
Accounts payable 10,100

Determine the totals that would appear in the firm’s fundamental accounting equation

(Assets = Liabilities + Owner’s Equity).

Question

04-06-2024
Business

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Just before Henderson Laboratories opened for business, Eugene Henderson, the owner, had the following assets and liabilities.

Cash $ 41,400
Laboratory equipment 76,500
Laboratory supplies 7,700
Loan payable 16,000
Accounts payable 10,100

Determine the totals that would appear in the firm’s fundamental accounting equation

(Assets = Liabilities + Owner’s Equity).

Sagot :

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