Hamlet.com has requested that you prepare a partial balance sheet on December 31, 2012, from the following:

Question:

Hamlet.com has requested that you prepare a partial on December 31, 2012, from the following: Cash, $114,000; Petty Cash, $69; Accounts Receivable, $69,000; Bad Debts Expense, $50,000; Allowance for Doubtful Accounts, $11,000; Merchandise Inventory, $16,000.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...