Question

Maria Gonzalez opened a veterinary business in Nashville,Tennessee, on August 1. On
August 31, the balance sheet showed Cash $9,000, Accounts Receivable $1,700, Supplies $600,
Office Equipment $6,000, Accounts Payable $3,600, and M. Gonzalez, Capital $13,700. During
September the following transactions occurred.

Answer 1

the answer is 1,700

I don't know id it correct, may be its wrong

Answer 2

Total Assets $=29800$

Net income $=4930$

Ending capital $=17630$

Explanation:

$Cash+Accounts\;Receivable+Supplies\;+Office\;Equipment=Notes\;Payable+Accounts\;Payable+M.\;Gonzalez\;Capital-\;M.\;Gonzalez\;Drawings\;+Revenues-Expenses.$

$9000+1700+600+6000=3600+13700$

Therefore, on calculating using the above equation by inputting all transactions given, we get

Total Assets $=29800$

Net income $=4930$

Ending capital $=17630$