Question
Blossom Company is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December 31, 2017.
Blossom Company is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December 31, 2017.
| Service revenue (from camping fees) | $190,080 | Dividends | $12,960 | |||
|---|---|---|---|---|---|---|
| Sales revenue (from general store) | 36,000 | Notes payable | 72,000 | |||
| Accounts payable | 15,840 | Expenses during 2017 | 181,440 | |||
| Cash | 12,240 | Supplies | 7,920 | |||
| Equipment | 164,160 | Common stock | 57,600 | |||
| Retained earnings (1/1/2017) | 7,200 |
Prepare a balance sheet for Blossom Company as of December 31, 2017. (List assets in order of liquidity.)
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Auditing Concepts And Methods
Authors: McGraw-Hill
1st Edition
0074701266, 978-0074701263
