Preparing the balance sheet Prepare the balance sheet of Decorating Arrangements as of December 31, 2016. Insurance

Question:

Preparing the Prepare the of Decorating Arrangements as of December 31, 2016.
Insurance Expense....... $ 2,000
Service Revenue....... 80,000
Utilities Expense....... 500
Rent Expense....... 11,000
Common Stock....... 8,500
Cash.............. 7,000
Retained Earnings, Jan. 1, 2016 .... 4,800
Salaries Expense.......$ 37,000
Accounts Payable....... 4,300
Office Supplies....... 1,500
Dividends....... 4,500
Accounts Receivable....... 7,500
Equipment....... 26,600 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...