Answered step by step
Verified Expert Solution
Question
1 Approved Answer
SC Sheet1 insert Table Chart Text Shape Media Comment The controller of the Kingston Hotel has provided you the following balance sheet information. Using
SC Sheet1 insert Table Chart Text Shape Media Comment The controller of the Kingston Hotel has provided you the following balance sheet information. Using the balance sheet accounts provided, prepare the Kingston Hotel's balance sheet. Balance Sheet Accounts (December 31, 2018) Short Term Investments 1,275,000 Paid in Capital 3,000,000 Other Current Liabilities 1,590,000 Accumulated Depreciation 1,185,000 Building 3,250,000 Inventories 380,000 Accounts Payable 1,460,000 Common Stock 750,000 Long-Term Debt 1,800,000 Retained Earnings 2,865,000 Cash 587,500 Land 1,957,500 Furnishings and Equipment 1,850,000 Net Receivables 2,675,000 Notes Payable 335,000 Other Assets 170,000 Marketable Securities 840,000 Kingston Hotel Assets Current Assets Cash Marketable Securities Net Receivables Short Term Investments Inventories Total Current Assets Property and Equipment Land Building Furnishings and Equipment Accumulated Depreciation Net Property and Equipm Other Assets Balance Sheet December 31, 2018 Liabilities and Owners' Equity Current Liabilities Accounts Payable Long-Term Debt Other Current Liabilities Total Current Liabilities Long-Term Liabilities Notes Payable Total Liabilities Owners' Equity Common Stock Paid in Capital Retained Earnings Total Owners' Equity Total Liabilities and Owners Equity Total Assets " #3 @D 2 80 F3 $ 54 300 H MacBook AB % & 5 6 87 44 17 88 A
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