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Please help me post the beginning balances to the T-accounts. I have provided the financial statements and T-accounts needed. Thank you so much & I
Please help me post the beginning balances to the T-accounts. I have provided the financial statements and T-accounts needed. Thank you so much & I will uplike!
Dresser Company Balance Sheet 31-Dec-20 Assets: Current Assets Cash Accounts Receivable Less Allowance for Doubtful Accounts ? Inventory 1 Prepaid Insurance Supplies 3 Total Current Assets $ 12,300 15.720 (7,210) 11,580 2,000 590 $ 34,980 Liabilities and Stockholders' Equity Current Liabilities: Accounts Payable Interest Payable Salary and Wages Payable Total Current Liabilities $ 8.200 2000 400 $ 10,600 Long Term Liabilities Bonds Payable. 8%, 10 year *** $ 50.000 3 - 3 Total Liabilities $ 60.600 Property. Plant and Equipment Building Less Accumulated Depreciation Equipment Less Accumulated Depreciation : Total Property, Plant and Equipment $ 100,000 (30,000) 60,000 (35,855) $ 94,145 Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity $ 55,000 13 525 $ 68,525 3 5 Total Assets $ 129,125 Total Liabilities and Stockholders' Equity $129. 125 * Total Assets $ 129,125 Total Liabilities and Stockholders' Equity $129,125 1 *** Interest payable Jan. 1 and July 1 **Inventory balance is: 4000 units at $1.50 each 3600 units at $1.55 each Total Inventory $ 6,000 5,580 $ 11,580 Accounts Cash Accounts Receivable Allowance for Doubtful Accts Inventory Prepaid Insurance Supplies Equipment Accumulated Depreciation - Equip Building Accumulated Depreciation - Build Accounts Payable Interest Payable Salaries & Wages Payable Bonds Payable Common Stock Retained Earnings Interest Receivable Note Receivable Long Term Premium on Note Receivable 3 5 6 Sales Revenue Cost of Goods Sold Salaries & Wages Expense 3 2. 6 Income Summary B Insurance Expense Interest Revenue Interest Expense Depreciation Expense - Equipment Bad Debt Expense Supplies Expense Selling Expenses Administrative Expenses Depreciation Expense - Building Income Tax Expense Dividends Income Tax Payable
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