Airline Company Balance Sheet As of December 31, 2003 Assets Cash………………………………………………….. $ 30,000 Account receivable………………………………… 50,000 Inventory…………………………………………….. 80,000 Net plant and equipment…………………………. 200,000 Total Assets………………………………………$ 360,000 Liabilities and...

Hi, I am using Microsoft Money to do my husband's small company's books (Canada) If it's a sole proprietorship, do I really need a trial balance and balance sheet? Thanks Jeanne

On January 31, an entity's balance sheet showed net assets of $1,025 and liabilities of $225 Owners' equity on January 31 was: A) $ 800 B) $1,025 C) $1,250 D) $ 225