1)Imagine that during 2020 the Company:a)Has invested €40,000 in the company (January) The ownerb)The amount has been used to fully pay off the mortgage (February)c)The Company has bought a car valued...

1)Imagine that during 2020 the Company:a)Has invested €40,000 in the company (January) The ownerb)The amount has been used to fully pay off the mortgage (February)c)The Company has bought a car valued in €5,000 (March)d)Another truck valued at €7,000 has been bought and will be paid next year. (April)e)The Owner withdraws 3,000 pounds for personal use (May)f)Prepare the Balance Sheet at the end on May 2020

Important:

●Explain what you are doing, not simply give a result.●Keep GAAP in mind●Remember that “equilibrium” is the basis of a balance sheet. Every asset has its counterpart in liabilities.