In alphabetical order below are balance sheet items for Mendoza

In alphabetical order below are balance sheet items for Mendoza Company at December 31, 2022. Kathy Mendoza is the owner of Mendoza Company. Prepare a balance sheet, following the format of Illustration 1.13.

Accounts payable .........................................  $90,000

Accounts receivable .....................................    72,500

Cash ...............................................................    49,000

Owner’s 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...