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Exercise 1-13 Lisa Anderson is the bookkeeper for Wildhorse Company. Lisa has been trying to determine the correct balance sheet for Wildhorse Company. Wildhorse's balance
Exercise 1-13 Lisa Anderson is the bookkeeper for Wildhorse Company. Lisa has been trying to determine the correct balance sheet for Wildhorse Company. Wildhorse's balance sheet is shown below. WILDHORSE COMPANY Balance Sheet December 31, 2020 Assets Liabilities Cash $19,134 Accounts payable $26,788 Supplies 10,205 Accounts receivable (8,291) Equipment 58,678 Owner's capital 86,103 Owner's drawings 16,583 Total liabilities and owner's equity $104,600 Total assets $104,600 Prepare a correct balance sheet. (List Assets in order of liquidity.) WILDHORSE COMPANY Balance Sheet Assets Liabilities and Owner's Equity
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