The accounting records for ADR, Inc. reflected the following amounts at the end of August 2013: Cash
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The accounting records for ADR, Inc. reflected the following amounts at the end of August 2013:
Cash ............. $3,500
Total Operating Expenses ....... 3,700
Accounts Payable ....... 4,500
Total Shareholders’ Equity ...... 5,200
Long-Term Notes Payable ....... 2,300
Inventory .......... 1,700
Wages Payable ........ 1,100
Cost of Goods Sold ........$19,500
Equipment, Net........ 6,100
Accrued Liabilities ........ 1,900
Net Sales Revenue........ 28,000
Accounts Receivable ........ 2,900
Prepaid Rent ........... 800
Prepare the ADR, Inc. classified balance sheet at August 31, 2013. Use the report format.
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Related Book For
Financial Accounting
ISBN: 978-0132889711
1st Canadian Edition
Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper
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