Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
The following accounts and account balances were listed in the accounting records of Lewis Custom Carpenters on 30 June 2019. $ 1,650 16,950 45,000 11,550
The following accounts and account balances were listed in the accounting records of Lewis Custom Carpenters on 30 June 2019. $ 1,650 16,950 45,000 11,550 1,500 85,500 300 Salaries payable Accounts receivable Investment receivable (ending 30 June 2020) Accounts payable Unearned revenue Building Interest payable (due 1 April 2020) Cash Notes payable (due 30 June 2021) Shop equipment Prepaid insurance Accumulated depreciation - building M Lewis, Capital Land Mortgage payable (due 30 June 2023) Stationery supplies Inventory Marketable securities Drawings Accumulated depreciation - shop equipment Net income (30 June 2019) 9,150 22,500 30,500 1,350 30,000 123,450 160,000 33,750 4,050 19,800 4,500 20,000 9,500 25,000 Required: Prepare a vertical format balance sheet, in the space provided
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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