Question
Calculate the missing balances of cash and retained earning accounts in the following charts..... Assets Liabilities Cash 7500 Accounts payable 43000 Accounts receivable 2600 Notes
Calculate the missing balances of cash and retained earning accounts in the following charts.....
Assets |
|
| Liabilities |
|
Cash | 7500 | Accounts payable | 43000 | |
Accounts receivable | 2600 | Notes payable | 228000 | |
Land | 120000 | Salaries payable | 12500 | |
Building | 390000 | Taxes payable | 38000 | |
Office Equipement | 8000 |
| ||
Prepaid insurance | 1200 | Stockholders equity |
| |
Inventory | 27000 |
| ||
| Capital stock | 200000 | ||
|
|
| Retained earnings |
|
Assets |
|
| Liabilities |
|
Cash | Accounts payable | 43000 | ||
Accounts receivable | 2600 | Notes payable | 228000 | |
Land | 267000 | Salaries payable | 12500 | |
Building | 578000 | Taxes payable | 38000 | |
Office Equipement | 32000 |
| ||
Prepaid insurance | 1200 | Stockholders equity |
| |
Inventory | 27000 |
| ||
| Capital stock | 100000 | ||
|
|
| Retained earnings | 487000 |
Step by Step Solution
3.56 Rating (170 Votes )
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 StartedRecommended Textbook for
Financial Accounting
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
3rd edition
9780077506902, 78025540, 77506901, 978-0078025549
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App