Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Problem 2-15 Preparing a Balance Sheet [LO 1] Prepare a balance sheet for Alaskan Peach Corporation as of December 31, 2022, based on the following
Problem 2-15 Preparing a Balance Sheet [LO 1] Prepare a balance sheet for Alaskan Peach Corporation as of December 31, 2022, based on the following information: cash = $194,000; patents and copyrights = $848,000; accounts payable = $295,000; accounts receivable = $254,000; tangible net fixed assets = $5,110,000; inventory = $539,000; notes payable = $188,000; accumulated retained earnings = $4,596,000; long-term debt = $1,240,000. Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Cash Accounts receivable Inventory Current assets Total assets Tangible net fixed assets Intangible net fixed assets Accounts payable Notes payable Current liabilities Long-term debt Balance Sheet Total liabilities Assets Liabilities Common stock Accumulated retained earnings Total liabilities & owners' equity $ $ $ $ $ 194,000 254,000 539,000 moni 987,000 5,110,000 848,000 295,000 188,000 483,000 1,240,000 1,723,000 4,596,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started