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Construct a balance sheet for Sophies Sofas given the following data. (Be sure to list the assets and liabilities in order of their liquidity.) Cash
| Construct a balance sheet for Sophies Sofas given the following data. (Be sure to list the assets and liabilities in order of their liquidity.) |
| Cash balances | = | $ | 6,000 |
| Inventory of sofas | = | $ | 160,000 |
| Store and property | = | $ | 60,000 |
| Accounts receivable | = | $ | 18,000 |
| Accounts payable | = | $ | 13,000 |
| Long-term debt | = | $ | 130,000 |
| BALANCE SHEET OF SOPHIES SOFAS | |||
| Assets | Liabilities & Shareholders Equity | ||
| (Click to select) Accounts receivable Cash Inventory Long-term debt Store & property Shareholders equity Accounts payable | $ | (Click to select) Inventory Store & property Accounts receivable Long-term debt Accounts payable Cash Shareholders equity | $ |
| (Click to select) Inventory Accounts payable Store & property Long-term debt Accounts receivable Cash Shareholders equity | (Click to select) Store & property Accounts receivable Shareholders equity Long-term debt Cash Accounts payable Inventory | ||
| (Click to select) Accounts payable Long-term debt Store & property Inventory Shareholders equity Accounts receivable Cash | (Click to select) Inventory Long-term debt Accounts receivable Accounts payable Shareholders equity Cash Store & property | ||
| (Click to select) Cash Accounts receivable Store & property Shareholders equity Long-term debt Accounts payable Inventory | |||
| Total assets | $ | Total liabilities & Shareholders' equity | $ |
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