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P 5 - 1 ( Algo ) Preparing a Balance Sheet and Analyzing Some of Its Parts L 0 5 - 3 [ The following
PAlgo Preparing a Balance Sheet and Analyzing Some of Its Parts L
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Exquisite Jewelers is developing its annual financial statements for the current year. The following amounts were correct at December current year. cash, $; accounts receivable, $; merchandise inventory, $; prepaid insurance, $; investment in stock of Corporation longterm $; store equipment, $; used store equipment held for disposal, $; accumulated depreciation, store equipment, $; accounts payable, $; longterm note payable, $; income taxes payable, $; retained earnings, $; and common stock, shares outstanding, par value $ per share originally sold and issued at $ per share
P Part
Required:
Based on these data, prepare a December current year, balance sheet.
Note: Amounts to be deducted should be indicated by a minus sign.
tableBXQISITE JEWELERS,For the Year Ended December Current Year,AssetsCurrent assets,,Cash$Accounts receivable,Merchandise inventory,Prepaid insurance,Total current assets,,$
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