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Prepare a balance sheet in its proper format

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Reference no: EM131772523

Question - Jim Smith had trouble finding a job, so he decided to start his own sole proprietorship by the name of Designers, Inc. Jim is a web site designer and here are the results as of the end of the first year of his business.

Accounts payable =$12,100

Cash=$19,150

Service revenue=$20,000

Contributed capital=$21,000

Wages expense=$4,100

Inventory=$4,445

Rent expense=$5,000

Equipment=$16,325

Supplies expense=$4,080

Retained earnings=$6,820

Prepare a balance sheet in its proper format with the heading left aligned.

Reference no: EM131772523

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