Question
Prepare a balance sheet for Wisemen Toys as of July 31, 2013. Wisemans account balances for the month ending July 31, 2013 are: Cash $
Prepare a balance sheet for Wisemen Toys as of July 31, 2013. Wisemans account balances for the month ending July 31, 2013 are:
Cash | $ 9,400 | Rent expense | $8,300 |
Accounts receivable | 18,500 | Utilities expense | 530 |
Office supplies | 3,100 | Salaries expense | 16,000 |
Office equipment | 29,150 | Misc. expenses | 145 |
Land | 70,000 | Retained earning July1 | 12,150 |
Sales | 55,000 | Common stock | 76,125 |
Cash dividends | 2,650 | Accounts payable | 4,500 |
Answer:
Wiseman Toys Balance Sheet July 31, 2013 | |
Assets |
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Total Assets | $130,150 |
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Liabilities |
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Stockholders Equity |
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Total Liabilities and Stockholders Equity | $130,150 |
(Hint: You do not need all the information given: Use only those you need to prepare this report. Ignore others)
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