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how do i complete this balance sheet? Instructions College Spirit sells sportswear with logos of major universities. At the end of 2019, the following balance
how do i complete this balance sheet?
Instructions College Spirit sells sportswear with logos of major universities. At the end of 2019, the following balance sheet account balances were available. $ 11,400 481,400 110,900 Accounts payable Accounts receivable Accumulated depreciation Bonds payable Cash I Common stock $104,700 Income taxes payable 6,700 Inventory 23,700 Long-term investment 180,000 Note payable, short-term 13,300 Prepaid rent (current) 300,000 Retained earnings, 12/31/2019 88,000 50,000 54,000 84,500 Furniture Required: 1. Prepare a classified balance sheet for College Spirit at December 31, 2019. 2. Compute College Spirit's working capital and current ratio at December 31, 2019, 3. Conceptual Connection: Comment on College Spirit's liquidity as of December 31, 2019. Balance Sheet 1. Prepare a classified balance sheet for College Spirit af December 31, 2019 ock Balance Sheet Instructions Score: 35/185 College Spirit Balance Sheet December 31, 2019 Assets 2 Current assets: 3 Cash $13,300.00 6,700.00 481,400.00 Accounts receivable 4 5 Inventory 6 Account) 7 (Label) 9 9 10 (Label) 11 12 13 14 Liabilities and Stockholders' Equity 15 Label) 16 17 18 15 20 (Label 1 22 Check My Work 6 (Account) 7 8 (Label) 9 10 (Label) 11 12 13 14 Liabilities and Stockholders' Equity 15 (Label) I 16 17 18 19 20 (Label) 21 22 23 (Label) 24 25 Step by Step Solution
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