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Organic Floral is an organic flower shop. After its first quarter of operations, the company's accountant prepared the following list of account balances, in alphabetical
Organic Floral is an organic flower shop. After its first quarter of operations, the company's accountant prepared the following list of account balances, in alphabetical order. The accountant also tells you that net income for the quarter was $52,500 Use the information below along with the net income information to prepare a balance sheet for Organic Floral Debit Credit $6,900 Accounts payable Accounts receivable Bank loan for van Cash Common stoc Cost of goods sold Delivery van Gas for van Tax expense Insurance expense Inventory Prepaid insurance Rent expense Salaries expense Sales Taxes payable $600 39,600 39,000 3,000 36,000 54,000 1,500 6,000 3,000 11,400 3,000 4,500 24,000 127,500 6,000 ORGANIC FLORAL Balance Sheet Total assets Total liabilities and equity
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