Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi there Please answer the below in 1 hour. very urgent. thanks in advance. The following items were taken from the records of a company

Hi there

Please answer the below in 1 hour. very urgent. thanks in advance.

The following items were taken from the records of a company as of December 31st.

Accounts Payable

47,000

Long-term Notes Receivable

35,000

Accounts Receivable

22,000

Patent,net

6,000

Building

215,000

Accrued Expenses

9,000

Cash

15,000

Short-term Notes Payable

135,000

Equipment

76,000

Common Stock

1,000

Retained Earnings

??

Bonds Payable

75,000

Prepaid Expenses

12,000

Accumulated depreciation

92,000

Sales

123,000

Dividends paid

30,000

Depreciation Expense

18,000

Unearned Revenue

8,000

Cost of Goods Sold

75,000

Goodwill

28,000

Long term Investments

100,000

Treasury Stock

25,000

Inventory

79,000

Short Term Investments

50,000

Interest Payable

1,000

Long Term Debt

150,000

Prepare a balance sheet in proper format for the company as of December 31st

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

what is a peer Group? Importance?

Answered: 1 week ago