Question: Suppose a local company has the following balance sheet accounts

Suppose a local company has the following balance sheet accounts:
Accounts Balances
Land .......... $9,000
Equipment ......... ?
Salaries Payable ....... 4,300
Notes Payable ....... ?
Supplies .......... 2,100
Cash ............. 7,200
Stockholders’ Equity ..... 13,500
Accounts Payable ....... 1,700
Prepaid Rent ........ 3,200
Calculate the missing amounts assuming the business has total assets of $37,500.


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  • CreatedJuly 15, 2014
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