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The following data was collected for the PackPlus, Inc packaging firm. Prepare a Balance Sheet. Cash on Hand $5,000 Accounts Payable $15,000 Accounts Receivable $18,000
The following data was collected for the PackPlus, Inc packaging firm. Prepare a Balance Sheet.
Cash on Hand | $5,000 | |
Accounts Payable | $15,000 | |
Accounts Receivable | $18,000 | |
Raw Material Inventory | $8,000 | |
InProcess Inventory | $4,000 | |
Finished Inventory | $7,000 | |
Buildings and Grounds | $960,000 | |
Machines and Furnishings | $372,500 | |
Loans due in coming year | $5,500 | |
Loans- Long term | $149,000 | |
Common Stock | $50,000 | |
Preferred Stock | $5,000 | |
Retained Earnings | $1,150,000 |
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