Given the following account information for Leong Corporation, prepare a balance sheet in report form for the

Question:

Given the following account information for Leong Corporation, prepare a in report form for the company as of December 31, 2017. All accounts have normal balances. Equipment 70,000 Interest Expense 2,400 Interest Payable 600 Retained Earnings ? Dividends 50,400 Land 137,320 102,000 Bonds Payable 78,000 Notes Payable (due in 6 months) 34,400 70,000 Accumulated Depreciation - Equip. 10,000 Prepaid Advertising 5,000 Service Revenue 351,400 Buildings 80,400 Supplies 1,860 Income Taxes Payable 3,000 Utilities Expense 1,320 Advertising Expense 1,560 Salaries and Wages Expense 53,040 Salaries and Wages Payable 900 Accumulated Depr. - Bld. 15,000 Cash 50,000 Depreciation Expense 8,000
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... 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...