In alphabetical order below are balance sheet items for George Company at December 31, 2012. Kayla George

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In alphabetical order below are balance sheet items for George Company at December 31, 2012. Kayla George is the owner of George Company. Prepare a balance sheet, following the format of Illustration 1-9.

Accounts payable                                $90,000

Accounts receivable                            $72,500

Cash                                                       $49,000

Owner’s capital                                    $31,500

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...
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Accounting Principles

ISBN: 978-0470534793

10th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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