Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Do a JOURNAL ENTRY. Make sure they BALANCE Debit = Credit. Write it on word or excel. Thanks. $112,500.00 $83,983.00 $(1,152.00) $54,629.00 $1,337.00 $1,782.00 S253,079.00
Do a JOURNAL ENTRY. Make sure they BALANCE Debit = Credit. Write it on word or excel. Thanks.
$112,500.00 $83,983.00 $(1,152.00) $54,629.00 $1,337.00 $1,782.00 S253,079.00 Assets Current Assets Cash Accounts Receivable Less: Allow. Dbtful Accts Merchandise Inventory Office Supplies Prepaid Insurance Total Current Assets Property and Equipment Land Buildings Less: Accum. Depr. Office Equipment Less: Accum. Depr. Vehicles Less: Accum. Depr. Total Property and Equipment Total Assets $70,000.00 $140,000.00 $(28,000.00) $15,570.00 $(11,720.00) $42,100.00 $(16,300.00) $211.650.00 $464,729.00 $30,300.00 $74,500.00 $9,950.00 Liabilities & Owner's Equity Current Liabilities Accounts Payable Note Payable Mortgage Note Payable (current portion) Total Current Liabilities Long-Term Liabilities Mortgage Note Payable Total Liabilities Stockholder's Equity Common Stock Total Liabilities and Owner's Equity $114.750.00 $90,450.00 $205,200.00 $259,529.00 $464,729.00Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started