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The following accounts were taken in random order from the General Ledger of MMM corporation with their balances, at Dec 31 2020 BALANCE 9 4
The following accounts were taken in random order from the General Ledger of MMM corporation with their balances, at Dec 31 2020 BALANCE 9 4 ACCOUNT Retained Eamings Cash Common Stock Accounts Receivables Notes Payable Office Supplies Unearned Revenue Prepaid Insurance Interest Payable Land Utilities Payable Equipment Accounts Payable Accumulated Depreciation-Equipment 8 2 3 4 55 14 2 4 Required a. Prepare a balance sheet for MM corporation at the end of the 2020 b. Based on the numbers above, make a comment regarding the liquidity of the company Based on the numbers provided above what can you conclude about MM company if its market value is $100 (compare with its book value)
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