From the following list of accounts, prepare a balance sheet showing all balance sheet items properly classified.
Question:
Accounts Payable
Accounts Receivable
Accumulated Depreciation—Buildings
Accumulated Depreciation—Equipment
Advertising Expense
Allowance for Bad Debts
Bad Debt Expense
Bonds Payable
Buildings
Cash
Common Stock
Cost of Goods Sold
Deferred Income Tax Liability
Depreciation Expense—Buildings
Dividends
Equipment
Estimated Warranty Expense Payable (current)
Gain on Sale of Investment Securities
Gain on Sale of Land
Goodwill
Income Tax Expense
Income Taxes Payable
Interest Receivable
Interest Revenue
Inventory
Investment in Subsidiary
Investment Securities (Trading)
Land
Loss on Purchase Commitments
Miscellaneous General Expense
Net Pension Asset
Notes Payable (current)
Paid-In Capital from Sale of Treasury Stock
Paid-In Capital in Excess of Stated Value
Patents
Premium on Bonds Payable
Prepaid Insurance
Property Tax Expense
Purchase Discounts
Purchases
Retained Earnings
Salaries Payable
Sales
Sales Salaries
Travel Expense
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...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
Question Posted: