Identify proper placement of the accounts associated with their respective financial statements.

Create a Balance Sheet

Description

Daisy’s Bed & Breakfast Resort has a list of accounts associated with its financial statements. It is required that you place each account into its proper classification within the financial statement. The balance sheet is attached.

The basic goal of this exercise is to be able to identify proper placement of the accounts associated with their respective financial statements. If done properly, the numbers used in calculating the balance sheet should match up.

Remember the equation for the Balance sheet:

ASSETS = LIABILITIES + EQUITY (OWNER’S EQUITY)

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