Question
Assets Current assets: cash $16,000 Accounts receivable 6000 Total current assets $22,000 Property, plant, and equipment: Equipment 12,000 Accumulated Depreciation- equipment (credit balance) (6,000) Total
Assets Current assets: cash $16,000 Accounts receivable 6000 Total current assets $22,000 Property, plant, and equipment: Equipment 12,000 Accumulated Depreciation- equipment (credit balance) (6,000) Total property, plant, and equipment 6,000 Total assets 28,000 Liabilities Current liabilities Accounts payable 1,800 Total current liabilities 1,800 Stockholders equity Common stock 1,000 Retained earnings 25,000 Total stockholders equity 26,000 Total liabilities and stockholders equity 27, 800 I am trying to create a balance sheet with the information the instructor gives. She is very difficult to reach and I do not want to do this incorectly. Is there anyway someone can tell me what is wrong with my calculations. I also notice that the total liabilities does not match with total asset and I am not sure what I am missing.
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