The Accounting Equation Apollo Corporation reported the following accounts and balances in its financial statements:
|
Cash |
$10,000 |
|
Merchandise Inventory |
30,000 |
|
Equipment |
45,000 |
|
Notes Payable |
20,000 |
|
Contributed Capital |
35,000 |
|
Retained Earnings |
30,000 |
Required
Arrange the accounts and balances into the accounting equation as shown below:
Assets = Liabilities + Equity