Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which of the following correctly shows a balance sheet? EXAMPLE COMPANY BALANCE SHEET JANUARY 31, 2019 ASSETS begin{tabular}{|c|c|} hline CASH & $13,000 hline ACCOUNTS

Which of the following correctly shows a balance sheet?

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed EXAMPLE COMPANY BALANCE SHEET JANUARY 31, 2019 ASSETS \begin{tabular}{|c|c|} \hline CASH & $13,000 \\ \hline ACCOUNTS RECEIVABLE & $12,000 \\ \hline TOTAL ASSETS & $25,000 \\ \hline LIABILITIES & \\ \hline ACCOUNTS PAYABLE & $6,000 \\ \hline NOTES PAYABLE & $4,000 \\ \hline TOTAL LIABILITIES & $10,000 \\ \hline EQUITY & $15,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ EXAMPLE COMPANY } \\ BALANCE SHEET \\ JANUARY 31, 2019 \\ \hline ASSETS \\ \hline CASH & $29,000 \\ \hline ACCOUNTS RECEIVABLE & $21,000 \\ \hline TOTAL ASSETS & $50,000 \\ \hline LIABILITIES & \\ \hline ACCOUNTS PAYABLE & $6,000 \\ \hline NOTES PAYABLE & $4,000 \\ \hline TOTAL LIABILITIES & $10,000 \\ \hline EQUITY & $15,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline ASSETS & \\ \hline CASH & $7,000 \\ \hline ACCOUNTS RECEIVABLE & $3,000 \\ \hline TOTAL ASSETS & $10,000 \\ \hline \multicolumn{2}{|l|}{ LIABILITIES } \\ \hline ACCOUNTS PAYABLE & $8,000 \\ \hline NOTES PAYABLE & $7,000 \\ \hline TOTAL LIABILITIES & $15,000 \\ \hline EQUITY & $7,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline \begin{tabular}{r} EXAMPLE COMF \\ BALANCE SHE \\ 20182019 \end{tabular} & \\ \hline ASSETS & \\ \hline CASH & $7,000 \\ \hline ACCOUNTS RECEIVABLE & $3,000 \\ \hline TOTAL ASSETS & $10,000 \\ \hline EQUITY & $5,000 \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Finance And The Behavioral Prospect

Authors: James Ming Chen

1st Edition

331981351X, 978-3319813516

More Books

Students also viewed these Finance questions