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I need help finishing the statement Here are the adjustments. All information here is correct Near the end of 2015, the management of Dimsdale Sports
I need help finishing the statement
Here are the adjustments. All information here is correct
Near the end of 2015, the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2015 DIMSDALE SPORTS COMPANY Estimated Balance Sheet December 31, 2015 Assets Cash Accounts receivable Inventory $36,000 525,000 150,000 Total current assets Equipment Less: accumulated depreciation 711,000 540,000 67,500 Equipment, net 472,500 Total assets $1,183,500 Liabilities and Equity 360,000 Accounts payable Bank loan payable Taxes payable (due 3/15/2016) 15,000 90,000 $ 465,000 Total liabilities Common stock 472,500 246,000 Retained earnings Total stockholders' equity 718,500 Total liabilities and equity $ 1,183,500Step by Step Solution
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