Question
Elizabeth Brown is the bookkeeper for Oriole Company. Elizabeth has been trying to determine the correct balance sheet for Oriole Company, shown as follows. ORIOLE
Elizabeth Brown is the bookkeeper for Oriole Company. Elizabeth has been trying to determine the correct balance sheet for Oriole Company, shown as follows.
ORIOLE COMPANY Balance Sheet December 31, 2022 | |||||||
---|---|---|---|---|---|---|---|
Assets | Liabilities | ||||||
Cash | $ 15,000 | Accounts payable | $ 23,157 | ||||
Supplies | 8,000 | Accounts receivable | ( 7,168 | ) | |||
Equipment | 46,000 | Owners capital | 66,011 | ||||
Owners drawings | 13,000 | Total liabilities and owners equity | $ 82,000 | ||||
Total assets | $ 82,000 |
Prepare a correct balance sheet. (List Assets in order of liquidity.)
ORIOLE COMPANY Balance Sheet choose the accounting period December 31, 2022For the Year Ended December 31, 2022For the Month Ended December 31, 2022 | ||||||
---|---|---|---|---|---|---|
Assets | ||||||
enter a balance sheet item | $ enter a dollar amount | |||||
enter a balance sheet item | enter a dollar amount | |||||
enter a balance sheet item | enter a dollar amount | |||||
enter a balance sheet item | enter a dollar amount | |||||
select a closing section name for this part of the balance sheet Current AssetsLiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentRevenuesOwners EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Owners EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal Owners Equity | $ enter a total amount for this part of the balance sheet | |||||
Liabilities and Owners Equity | ||||||
select an opening name for section one Current AssetsLiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentRevenuesOwners EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Owners EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal Owners Equity | ||||||
enter a balance sheet item | $ enter a dollar amount | |||||
select an opening name for section two Current AssetsLiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentRevenuesOwners EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Owners EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal Owners Equity | ||||||
enter a balance sheet item | enter a dollar amount | |||||
select a closing name for this part of the balance sheet Current AssetsLiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentRevenuesOwners EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Owners EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal Owners Equity | $ enter a total amount for this part of the balance sheet |
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