In alphabetical order below are balance sheet items for Lopez Company at December 31, 2010 Kim Lopez is the owner of Lopez Company Prepare a balance sheet, following the format of Illustration 1 9 Accounts payable $90,000 Accounts receivable $72,500 Cash $49,000 Kim Lopez, Capital $31,500 ...

LOPEZ COMPANY Balance Sheet December 31 2010 Assets Cas ...

In alphabetical order below are balance sheet items for Lopez Company at December 31, 2010. Kim Lopez

Question:

In alphabetical order below are items for Lopez Company at December 31, 2010. Kim Lopez is the owner of Lopez Company. Prepare a following the format of Illustration 1-9.
Accounts payable....... $90,000
Accounts receivable...... $72,500
Cash............ $49,000
Kim Lopez, Capital...... $31,500

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...