Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The adjusted Balances at Decemeber 31, 2020, for derhak enterprises are shown in alphabetical order below. Prepare a comparative classified balance sheet at December 31,2020

The adjusted Balances at Decemeber 31, 2020, for derhak enterprises are shown in alphabetical order below.
Prepare a comparative classified balance sheet at December 31,2020
Are Derhak's assets finanaced mainlynby debt or equity in 2019 and 2020? image text in transcribed
image text in transcribed
image text in transcribed
lor Enterprises are show 24 Accounts payable Accumulated amortization, franchise Accumulated amortization, patent Accumulated depreciation, equipment Accumulated depreciation, tools Accumulated depreciation, vehicles Cash Equipment Franchise Lee Derlak, capital* Lee Derlak, withdrawals Notes payable, due in 2023 Office supplies Operating expenses Patent Prepaid rent Salaries payable Service revenue Tools Vehicles 2020 2019 $ 57,300 $ 9,700 19,300 11,300 4,000 1,500 73,300 60,000 45, 100 42,900 108,900 98,400 12,000 28,900 185,000 100,000 42,600 42,600 207,320 52,120 33,000 38,400 150,000 139,900 2,500 2,420 780,900 571,300 17,000 17,000 30,000 48,000 25,000 22,400 810, 800 764,900 144,420 100,900 253,600 253.600 The ownerlee Merlakumare no additional invoetmonte is the Saved Balance Sheet December 31 2020 2019 Assets Current assets: Total current assets Property, plant and equipment: Toth property, plant and equipment Intangible assets Totat intangible asset TOLG Liabilities Current TCC Non durert Analysis Component: Are Derlak's assets financed mainly by debt or equity in 2019? in 2020? Is the change in how assets were financed from 2019 to 2020 fovourable or unfavourable? In 2020, the assets are financed largely by Dertaks assets are financed by in 2010 The change from 2019 to 2020 in how assets were mainly financed is

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions