Question
Prepare a 2017 balance sheet for Jarrow Corp. based on the following information: cash = $130,000; patents and copyrights = $630,000; accounts payable = $211,500;
Prepare a 2017 balance sheet for Jarrow Corp. based on the following information: cash = $130,000; patents and copyrights = $630,000; accounts payable = $211,500; accounts receivable = $155,000; tangible net fixed assets = $1,625,000; inventory = $294,500; notes payable = $175,000; accumulated retained earnings = $1,272,000; long-term debt = $848,000. (Do not round intermediate calculations. Be sure to list the accounts in order of their liquidity.) JARROW CORP. Balance Sheet Assets $ Current assets $ Total assets $ Liabilities & Equity $ Current liabilities $ Total liabilities $ Total liabilities & owners' equity $
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