Question

Selected financial statements for Ralston Company, a sole proprietorship, are as follows:


Additional Information:
a. During 2014, equipment having accumulated depreciation of $4,500 was sold for a $3,000 gain.
b. A $3,750 lease payment was made in 2014, reducing the lease liability by $3,000.
c. 2014 depreciation expense: on leased property, $3,000; on equipment, $8,250.
d. Net income for 2014, $14,250.

Required:
Using the provided data, prepare Ralston’s December 31, 2014, balancesheet.


$1.99
Sales0
Views75
Comments0
  • CreatedSeptember 10, 2014
  • Files Included
Post your question
5000