2-c. Prepare a balance sheet based on the adjusted trial balance completed in Part 1. Assume that the owner, Eli Arrow, made an investment during September of $3.600. ARROW HOSPITALITY Balance Sheet September 30, 2020 Assets Total Assets Liabilities Total Liabilities Equity Total Liabilities and Equity
2-c. Prepare a balance sheet based on the adjusted trial balance completed in Part 1. Assume that the owner, Eli Arrow, made an investment during September of $3.600. ARROW HOSPITALITY Balance Sheet September 30, 2020 Assets Total Assets Liabilities Total Liabilities Equity Total Liabilities and Equity
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:2-c. Prepare a balance sheet based on the adjusted trial balance completed in Part 1. Assume that the owner, Eli Arrow, made an
investment during September of $3.600.
ARROW HOSPITALITY
Balance Sheet
September 30, 2020
Assets
Total Assets
Liabilities
Total Liabilities
Equity
Total Liabilities and Equity

Transcribed Image Text:Unadjusted
Adjusted
Trial Balance
Adjustments
Trial Balance
Account
Debit
Credit
Debit
Credit
Debit
Credit
Cash
6.000
6.000
Accounts receivable
11,200
6,200
17,400
Repair supplies
2,200
1,500
700
Prepaid rent
14,000
10,000
4,000
Office furniture
28.000
26.000
Accounts payable
8,000
8,000
Notes payable
21,600
21,600
Eli Arrow, capital
67,758
67,758
Eli Arrow, withdrawals
5.000
5.000
Hospitality revenues
128,000
6,200
134,200
Salaries expense
144.000
144.000
Wages expense
18,958
2,800
19,758
Totals
225,358
$ 225,358
Interest expense
162
162
Interest payable
162
162
Depreciation expense, office furniture
500
500
Accumulated depreciation, office furniture
500
500
Repair supplies expense
1,500
1,500
Rent expense
10,000
10.000
Wages payable
2,800
2,800
Internet expense
100
Totals
21,162
21.262
235,020
$ 235.020
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