Just before Johnson Laboratories opened for business, Howard Johnson, the owner, had the following assets and liabilities.

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Just before Johnson Laboratories opened for business, Howard Johnson, the owner, had the following assets and liabilities.

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Just before Johnson Laboratories opened for business, Howard Johnson, the owner, had the following assets and liabilities.
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Laboratory Equipment 75,400

Laboratory Supplies 6,600

Loan Payable 14,900

Accounts Payable 9,825

Determine the totals that would appear in the firm’s fundamental accounting equation.

Assets_________

Liabilities__________

Owner’s Equity__________________

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