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AC Ltd. Has collected the following data and asks you to prepare the Balance Sheet at 12/31/202: Balance Sheet Items 12/31/20X2 12/31/20X1 Accounts Payable
AC Ltd. Has collected the following data and asks you to prepare the Balance Sheet at 12/31/202: Balance Sheet Items 12/31/20X2 12/31/20X1 Accounts Payable to Suppliers $29,000 $27,000 Accounts Receivable from Customers $29,000 $ 24,000 Bonds Payable $18,780 $18,780 Buildings (net of depreciation) $11,000 $12,000 Cash $7,000 $3,000 Land $18,780 $18,780 Equipment (net of depreciation) $23,000 $17,000 Income Taxes Payable $7,000 ||$5,000 Common Stock ||$9,000 $6,000 Merchandise Inventory $8,155 $ 8,000 Retained Earnings $25,000 $25,000 Salaries Payable $8,155 Required 1: AC's Current assets as of 12/31/20X2 must have been: $ $1,000 Required 2: AC's Non Current Assets as of 12/31/20X2 must have been: $ Required 3: AC's Total Assets as of 12/31/202 must have been: $ Required 4: AC's Current Liabilities as of 12/31/202 must have been: $
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