Use the following information to prepare a classified balance sheet for Alpha Co. at the end of
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Use the following information to prepare a classified balance sheet for Alpha Co. at the end of 2018.
Accounts receivable............................$26,500
Accounts payable..................................12,200
Cash......................................................20,500
Common stock......................................30,000
Land......................................................10,000
Long-term notes payable.......................17,500
Merchandise inventory..........................26,300
Retained earnings..................................23,600
Balance SheetBalance 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...
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Related Book For
Survey of Accounting
ISBN: 978-1259631122
5th edition
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor Yi Tsay
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