Question
Wayne Holtz is the bookkeeper for Blossom Company. Wayne has been trying to get the balance sheet of Blossom Company to balance. It finally balanced,
Wayne Holtz is the bookkeeper for Blossom Company. Wayne has been trying to get the balance sheet of Blossom Company to balance. It finally balanced, but now hes not sure it is correct.
Blossom Company Balance Sheet December 31, 2022 | |||||||
---|---|---|---|---|---|---|---|
Assets | Liabilities and Stockholders Equity | ||||||
Cash | $15,000 | Accounts payable | $15,000 | ||||
Supplies | 9,000 | Accounts receivable | (11,000) | ||||
Equipment | 35,000 | Common stock | 35,000 | ||||
Dividends | 6,000 | Retained earnings | 26,000 | ||||
Total assets | $65,000 | Total liabilities and stockholders equity | $65,000 |
Prepare a correct balance sheet. (List assets in order of liquidity.)
BLOSSOM COMPANY Balance Sheet choose the accounting period For the Month Ended December 31, 2022For the Year Ended December 31, 2022December 31, 2022 | ||||||
---|---|---|---|---|---|---|
Assets | ||||||
enter a balance sheet item | $enter a dollar amount | |||||
enter a balance sheet item | enter a dollar amount | |||||
enter a balance sheet item | enter a dollar amount | |||||
enter a balance sheet item | enter a dollar amount | |||||
select a closing name for the first part of the balance sheet Current AssetsLiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity | $enter a total amount for the first part of the balance sheet | |||||
Liabilities and Stockholders' Equity | ||||||
select an opening name for section one Current AssetsLiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||||
enter a balance sheet item | $enter a dollar amount | |||||
select an opening name for section two Current AssetsLiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||||
enter a balance sheet item | $enter a dollar amount | |||||
enter a balance sheet item | enter a dollar amount | |||||
select a closing name for section two Current AssetsLiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity | enter a subtotal amount of the two previous amounts | |||||
select a closing name for the second part of the balance sheet Current AssetsLiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity | $enter a total amount for the second part of the balance sheet |
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