Preparation of balance sheet after a series of transactions
The balance sheet was as follows for Custom Ceramics on February 1,2018:
During the first week of February,the following transactions occurred:
(1)The business used cash to pay off $5,000 of its accounts payable.(No payment was made on the notes payable. )
(2)Additional capital stock was issued to Joan Custom for $15,000 cash.
(3)Equipment was purchased on credit for $1,800
(4)The business collected $4,000 cash from accounts receivable.
Complete the balance sheet for Custom Ceramics as of February 8,2018.
Definitions:
Personal Construct System
A psychological framework suggesting individuals use personal constructs, which are unique, dichotomous concepts, to interpret and predict the world around them.
George Kelly
An American psychologist known for his development of personal construct psychology.
Interpersonal Circumplex
A model that categorizes and describes human interpersonal behaviors and personality traits along two dimensions: dominance and warmth.
Skills
The ability to do something well; expertise or competence in a particular activity or domain.
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