In alphabetical order below are balance sheet items for Lopez Company at December 31, 2010. Kim Lopez is the owner of Lopez Company. Prepare a balance sheet, following the format of Illustration 1-9. Accounts payable....... $90,000 Accounts receivable...... $72,500 Cash............ $49,000 Kim Lopez, Capital...... $31,500
Chapter 1, Brief Exercises #10
In alphabetical order below are balance sheet items for Lopez Company at December 31, 2010. Kim Lopez is the owner of Lopez Company. Prepare a balance sheet, following the format of Illustration 1-9.
Accounts payable....... $90,000
Accounts receivable...... $72,500
Cash............ $49,000
Kim Lopez, Capital...... $31,500
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...
Accounts payable....... $90,000
Accounts receivable...... $72,500
Cash............ $49,000
Kim Lopez, Capital...... $31,500
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...
This problem has been solved!
Do you need an answer to a question different from the above? Ask your question!
Answer
LOPEZ COMPANY Balance Sheet December 31, 2010 Assets Cash ................................................................................................................ …View the full answer
Related Book For 
Accounting Principles
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
ISBN: 978-0470533475