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I'm supposed to make a balance sheet with this information given. The numbers are made up numbers attributed to the Disney company. I submitted an
I'm supposed to make a balance sheet with this information given. The numbers are made up numbers attributed to the Disney company. I submitted an assignment like this assignment already but I got a bad grade and the teacher won't give us an answer key telling us what we did wrong. This is the assignment:
From the Disney financial records provided below,construct the company's balance sheet:
- Machine and Equipment $450,000.
- Inventories are $253,125.
- Cash in the coffer (cash box) $26,000 and cash in the bank $100,000.
- Account receivable in the amount of $270,000.
- Employees need to be paid next week in the amount of $40,000, and an outstanding food bill is due next week in the amount of$57,200.
- Short-term borrowing $60,300.
- Due to the outstanding loan, accumulated interests are $68,400.
- Net income leftover from last year that will be re-invested in the company in the amount of $288,225. [This is an accumulated leftover income as well.]
- A small outstanding business administration loan in the amount of$135,000.
- The company has shareholders with a capital amount of $450,000.
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