You are to prepare a balance sheet for a hypothetical business entity of your choosing (or specified by your instructor) Include in your balance sheet the types of assets and liabilities that you think the entity might have, and show these items at what you believe would be realistic dollar amounts...

The purpose of the case is to challenge students to think about the types of assets nec ...

You are to prepare a balance sheet for a hypothetical business entity of your choosing (or specified

Question:

You are to prepare a for a hypothetical business entity of your choosing (or specified by your instructor). Include in your the types of assets and liabilities that you think the entity might have, and show these items at what you believe would be realistic dollar amounts. Make reasonable assumptions with regard to the company’s capital stock and retained earnings.

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...