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On January 1, 2015, Dr. Kurt Rutherford started a new professional corporation, Kurt Rutherford, P.C., to practice medicine with an initial investment of $100,000. On
On January 1, 2015, Dr. Kurt Rutherford started a new professional
corporation, Kurt Rutherford, P.C., to practice medicine with an initial
investment of $100,000. On December 31, 2015 the accounting records
contained the following amounts:
Accounts Payable | $2,000 |
Accounts Receivable | 6,200 |
Cash | 48,100 |
Capital Stock, $10 par | 100,000 |
Office Equipment | 65,000 |
Accumulated Depreciation | 5,000 |
Inventory | 3,500 |
Retained Earnings | 5,800 |
Notes Payable (Short-Term) | 10,000 |
Prepare an unclassified balance sheet at December 31, 2015. A heading is required.
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