Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

Use the information provided below to prepare in good form, a Simple Balance Sheet for Clear Moon Company, LLC for the year ended December 31,

Use the information provided below to prepare in good form, a Simple Balance Sheet for Clear Moon Company, LLC for the year ended December 31, 2018:

Buildings$25,000Cash$8,000

Accounts Receivable2,000Notes payable (long term)30,000

Land11,000 Office Supplies$1,000

Merchandise Inventory 7,000Accumulated Depreciation -Blding5,000

Accounts Payable5,000M. Walters Capital16,000

Wages Payable3,000

NOTE: M. Walter had a net loss of $5,000 in 2018 accounting period.

Use the following Sub categories: Current Assets; Property Plant and Equipment, and Total Assets.

ForLiabilities use: Current liabilities, Long-Term Liabilities, Total Liabilities and Owner's Equity.

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

Recommended Textbook for

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

9781119563099

Students also viewed these Accounting questions