Question
The Balance Sheet accounts for the Friendly Bakery are listed below in alphabetical order on December 31, 2019, after all necessary adjustments. But just before
The Balance Sheet accounts for the Friendly Bakery are listed below in alphabetical order on December 31, 2019, after all necessary adjustments. But just before presentation, the careless accounting and finance manager finds some documents left from the last days of December which were not recorded. Date of Documents: December 30: The owner invested an additional $25.000 in the business in cash, the accounts payable of $15.000 was paid. December 31: Equipment was purchased at a cost of $7.200 to be paid within 10 days. Supplies were purchased for $1.250 in cash from a restaurant supply center, which was going out of business. These supplies would have cost $1.890 if purchased through normal channels. Finally, the manager realizes that the Capital Stock Account is missing. He cannot find any figures for that account. You help him to present Balance Sheet after recording the missing transactions and figuring the missing account. ACCOUNTS $ Accounts Payable 16.200 Accounts Receivable 11.260 Accumulated Depreciation, All 18.500 Building 80.000 Cash 6.940 Equipment 30.000 Land 67.000 Notes Payable 74.900 Salaries Payable 8.900 Supplies 7.000 Net Loss of the period 16.300
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