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Im having trouble balancing my balance sheet. Credit 7.615 FOX LIMITED Adjusted Trial Balance As at 31 December 20X6 Accounts Debit Cash 1 $ 129,000
Im having trouble balancing my balance sheet.
Credit 7.615 FOX LIMITED Adjusted Trial Balance As at 31 December 20X6 Accounts Debit Cash 1 $ 129,000 Accounts receivable 68,000 Allowance for doubtful accounts Inventory (perpetual system) 199,000 Prepaid insurance 1,480 Equipment 206,000 Accumulated amortization Accounts pavable Wages payable Income taxes payable Common shares, no-par Retained earnings Sales revenue Cost of goods sold 471,000 Operating expenses 153,036 Income tax expense 46,800 Income summary fo Total $ 1.274,315 103,000 32,500 1,900 46,800 264.000 95,500 723,000 $ 1.274,315 FOX LIMITED Balance Sheet At 31 December 20x6 Assets Llabilities Current assets: Cash $ | $ 6 Accounts receivable Allowance for doubtful accounts Inventory Current liabilities: 129,000f Accounts payable 8,000 Wages payable (7,615) Income taxes payable 199,000 1.480 32,500 1.900 46,800 Prepaid insurance $ $ 81,200 Total current assets Capital assets: Equipment Accumulated depreciation, equipment 369,865 Total current liabilities Stockholders' equity: 206,000f Common shares, no-par (103,000) Retained eamings | $ $ 264,000 95,500 $ Total capital assets Total assets 103,000 Total shareholders' equity 492,865 Total liabilities and stockholders' equity $ $ 359,500 440,700 $
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