Arrange the following items in proper balance sheet presentation: Accumulated amortization....................................$300,000 Retained earnings. . ................ .. ..
Question:
Arrange the following items in proper balance sheet presentation:
Accumulated amortization....................................$300,000
Retained earnings. . ................ .. .. .. .. ...................96,000
Cash ................ . . .. .. .. ......... . . .. .. .. ...................10,000
Bonds payable........................................................136,000
Accounts receivable ................. . .............................48,000
Plant and equipment-original cost. ...... .. .. .. .. ......680,000
Accounts payable. . ................ .. .. .. .. ....................35,000
Allowance for bad debts.............................................6,000
Common stock, 100,000 shares outstanding ........188,000
Inventory ..................................... . ..........................66,000
Preferred stock, 1 ,000 shares outstanding..............50,000
Marketable securities ........................ . ....................20,000
Investments ............... . ............................................20,000
Notes payable...........................................................33,000
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...
Step by Step Answer:
Balance Sheet Assets Current Assets Cash 10000 Marketable securities 20000 Accounts receivable 48000 ...View the full answer
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
