The following is selected financial information for RWB Company as of December 31, 2011. Liabilities . .

Question:

The following is selected financial information for RWB Company as of December 31, 2011.

Liabilities . . . . . . . . $74,000

Equity . . . . . . . . . . . $40,000

Assets . . . . . . . . . . $114,000

Required

Prepare the balance sheet for RWB Company as of December 31, 2011.

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...