On December 1, 2013, Geneva Jordan opened her new business with the following assets and liabilities. Complete the accounting equation for the firm. $$\begin{array} { l r l r }
\text { Accounts Payable } & \$ 1,100 & \text { Prepaid Rent } & \$ 6,000 \
\text { Cash } & 3,950 & \text { Loans Payable } & 15,500 \
\text { Equipment } & 26,200 & \text { Supplies } & 1,250
\end{array}$$ Assets $________ = Liabilities $________ + Owner's Equity $________

Question

On December 1, 2013, Geneva Jordan opened her new business with the following assets and liabilities. Complete the accounting equation for the firm. $$\begin{array} { l r l r } 
\text { Accounts Payable } & \$ 1,100 & \text { Prepaid Rent } & \$ 6,000 \
\text { Cash } & 3,950 & \text { Loans Payable } & 15,500 \
\text { Equipment } & 26,200 & \text { Supplies } & 1,250
\end{array}$$ Assets $________ = Liabilities $________ + Owner's Equity $________

Quizplus · Accepted Answer

The Answer of On December 1, 2013, Geneva Jordan opened her new business with the following assets and liabilities. Complete the accounting equation for the firm. $$\begin{array} { l r l r } 
\text { Accounts Payable } & \$ 1,100 & \text { Prepaid Rent } & \$ 6,000 \
\text { Cash } & 3,950 & \text { Loans Payable } & 15,500 \
\text { Equipment } & 26,200 & \text { Supplies } & 1,250
\end{array}$$ Assets $________ = Liabilities $________ + Owner's Equity $________

On December 1, 2013, Geneva Jordan Opened Her New Business