Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help:) it is due by midnight Preparation of Balance Sheet Dooley Company's December 31 post-closing trial balance contains the following normal balances: Cash Accounts

Please help:) it is due by midnight

image text in transcribedimage text in transcribed

Preparation of Balance Sheet Dooley Company's December 31 post-closing trial balance contains the following normal balances: Cash Accounts payable Building Long-term notes payable Common stock Retained earnings Accumulated depreciation-Equipment 198,000 Land Accounts receivable Accumulated depreciation-Building 148,500 Wages payable Patent (net of amortization) Notes payable (short term) Inventory Equipment Allowance for doubtful accounts $9,900 19,800 483,450 863,500 990,000 77,000 912,450 24,750 6,600 132,000 144,100 226,600 660,000 1,650 Required Prepare a December 31 classified balance sheet for Dooley Company DOOLEY COMPANY Balance Sheet December 31 Assets Current Assets: Cash Inventory Accounts Receivable $ 9,900 226,60 24,750 Less: Allowance for Doubtful Accounts 1,650 Total Current Assets Plant Assets: Land 912,45 Building 483,45 Accumulated Depreciation 198,00 Equipment Accumulated Depreciation Accumulated Depreciation 198,00 Equipment Accumulated Depreciation Total Plant Assets Intangible Assets Patent (net of amortization) Total Assets Liabilities Current Liabilities: Accounts Payable Wages Payable Notes Payable (short term) $19,800 Total Current Liabilities Long-Term Liabilities: Notes Payable Total Liabilities Stockholders' Equity Stockholders' Equity: Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Please answer all parts of the

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing The Modern Hospital

Authors: B. J Hall

1st Edition

0130516724, 978-0130516725

More Books

Students also viewed these Accounting questions

Question

With reference to Exercise 3.28, find P(0.8 Answered: 1 week ago

Answered: 1 week ago