From the following accounts and amounts prepare a balance sheet for the Swell Company for December 31, 2019. You must compute the amount for retained earnings to complete the balance sheet. Account Payable $61,250 Account Receivable $70,500 Building $50,000 Capital Stock $50,000 Cash $64,000 Equipment $30,000 Insurance Expense $5,000 Land $125,000 Notes Payable $175,000 Sales Revenue $25,000 Salaries $20,000
From the following accounts and amounts prepare a balance sheet for the Swell Company for December 31, 2019. You must compute the amount for retained earnings to complete the balance sheet. Account Payable $61,250 Account Receivable $70,500 Building $50,000 Capital Stock $50,000 Cash $64,000 Equipment $30,000 Insurance Expense $5,000 Land $125,000 Notes Payable $175,000 Sales Revenue $25,000 Salaries $20,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 6E: Balance Sheet Baggett Companys balance sheet accounts and amounts as of December 31, 2019, are shown...
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From the following accounts and amounts prepare a
Account Payable |
$61,250 |
Account Receivable |
$70,500 |
Building |
$50,000 |
Capital Stock |
$50,000 |
Cash |
$64,000 |
Equipment |
$30,000 |
Insurance Expense |
$5,000 |
Land |
$125,000 |
Notes Payable |
$175,000 |
Sales Revenue |
$25,000 |
Salaries |
$20,000 |
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