Question
Atlantic Corporation has the following Assets and Liabilities on December 31, 2021 $ Cash 10,000 Accounts Payable 20,000 Inventory 15,000 Owners equity 220,000 Property, Plant
Atlantic Corporation has the following Assets and Liabilities on December 31, 2021
|
| $ |
| Cash | 10,000 |
| Accounts Payable | 20,000 |
| Inventory | 15,000 |
| Owners equity | 220,000 |
| Property, Plant & Equipment | 250,000 |
| Notes payable | 40,000 |
| Accounts Receivable | 5000 |
Based on the above information prepare the Balance Sheet of Atlantic Corporation
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Advanced Financial Accounting An International Approach
Authors: Jagdish Kothari, Elisabetta Barone
1st Edition
0273712748, 978-0273712749
