Based on the balance sheet for April, offer two ways in which Janet and Omar can increase their owner equity
Assets
Cash (bills and coins) $35
Bank checking account $1,997
Materials (beads and wires) $40
Finished jewelry $100
Office supplies $50
Furniture $100
Total $2,322
Liabilities
Balance on loans $925
Payroll $1,000
(1 salesperson who works 20 hours/month)
Total $1,925
Assets – Liabilities = Owner Equity
$2,322 total assets
– $1,925 total liabilities
= $407 owner equity
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