Using the data from Problem and Case 2.5, prepare a balance sheet as at December 31, 2010,

Question:

Using the data from Problem and Case 2.5, prepare a as at December 31, 2010, for the Jamery Goods Company.
In problem
Bonds payable, due 2016 ......................................$100,000
Inventory ................................................................30,000
Dividends ...............................................................10,000
Accounts payable ...................................................20,000
Cash ....................................................................... 200,000
Accounts receivable ...............................................60,000
Accumulated depreciation-Cars ................................30,000
Income taxes payable ................................................15,000
Common shares ......................................................... 120,000
Net income ................................................................50,000
Cars ...........................................................................75,000
Opening retained earnings .........................................40,000 Balance Sheet
Balance 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...