Based on the given entries that Jonathan Shaw owes and owns, the Balance Sheet can be drawn below.
<h3>What is Jonathan Shaw's balance sheet?</h3>
The assets will go to the right side of the sheet and the liabilities and equity will go to the left.
Jon's Shop of Gifts Balance Sheet
Assets Liabilities
Cash $2,556 Bank loan $19,000
Accounts Receivable: $450 Accounts Payable - $900
R. Gregory Ceramic supply
Accounts Receivable: $1,860 Accounts Payable - $2,900
R. Gregory Jose's Art Co.
Supplies $1,000 Total liabilities $22,800
Furniture $10,300 Equity
Equipment $20,000 Jonathan Shaw capital $51,166
Automobiles $37,800 Total equity $51,166
Total assets $73,966 Total liabilities and $73,966
equity
The equity can be found as:
= Assets - liabilities
= 73,966 - 22,800
= $51,166
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