Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help creating a Classified Balance Sheet The Assets do not equal the Liability and Owner's Equity on the balance sheet, Assets are $54,000

I need help creating a Classified Balance Sheet

The Assets do not equal the Liability and Owner's Equity on the balance sheet, Assets are $54,000 greater than the Liability and Owner's Equity

The numbers will most likely not be acccurate but just need a genral template of a balance sheet all the information below. It will not add up equally due to the numbers. image text in transcribed

Below is a list of accounts for Allied Construction, LLC. using this information for the year ended December 31, 2016. Year End Year End 2016 2015 Cash 510,000 482,000 185,000 195,000 Accounts receivable 682,000 750,000 Equipment Accumulated Depreciation Equip 134,000 195,000 Building 9,040,000 9,802,000 Accumulated Depreciation Bldg. 1,003,000 1,877,000 Accounts payable 35,000 22,000 Bond payable (due date 2015 4,927,000 4,927,000 Common Stock 561,000 650,000 Dividends 88,000 Retained Earnings 376,000 Service Revenue 4,118,000 Wage expense 545,000 191,000 Rent expense Utilities expense 37,000 16,000 Supplies expense 8,000 Depreciation expense Gain on sale of equipment 12,000 Loss on sale of building 35,000 Hint: How is gain/ loss determind? Cash received from sale of equipm Cash received from sale of buildini

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

Students also viewed these Accounting questions

Question

What do you understand by MBO?

Answered: 1 week ago

Question

What is meant by planning or define planning?

Answered: 1 week ago

Question

Define span of management or define span of control ?

Answered: 1 week ago