Balance sheets and owners equity


Problem: Please help with the following problem regarding balance sheets and owner's equity.

Prepare a balance sheet from the following information:

Stock of goods - $13,000
Loan from Bank - $58,000
Freehold Land and buildings - $64,000
Cash - $1,000
Trade Creditors - $10,000
Bank Overdraft - $10,700
Delivery van - $3,200
Office Furniture - $4,600
Fixtures and fittings - $15,200
Owner's Equity = ?

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Accounting Basics: Balance sheets and owners equity
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