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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 | = | $ | 9,500 |
Inventory of sofas | = | $ | 195,000 |
Store and property | = | $ | 95,000 |
Accounts receivable | = | $ | 21,500 |
Accounts payable | = | $ | 16,500 |
Long-term debt | = | $ | 165,000 |
BALANCE SHEET OF SOPHIES SOFAS | |||
Assets | Liabilities & Shareholders Equity | ||
(Click to select) Shareholders equity Inventory Accounts payable Cash Long-term debt Store & property Accounts receivable | $ | (Click to select) Accounts receivable Accounts payable Inventory Store & property Long-term debt Cash Shareholders equity | $ |
(Click to select) Inventory Accounts receivable Long-term debt Store & property Cash Accounts payable Shareholders equity | (Click to select) Cash Long-term debt Shareholders equity Accounts payable Accounts receivable Inventory Store & property | ||
(Click to select) Accounts receivable Store & property Long-term debt Accounts payable Cash Inventory Shareholders equity | (Click to select) Accounts receivable Long-term debt Shareholders equity Accounts payable Cash Inventory Store & property | ||
(Click to select) Long-term debt Shareholders equity Accounts receivable Accounts payable Store & property Inventory Cash | |||
Total assets | $ | Total liabilities & Shareholders' equity | $ |
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