Prepare a balance sheet for Wisemen Toys as of July 31, 2013. Wiseman’s 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
Total Assets	$130,150
Liabilities
Stockholders’ Equity
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)