In alphabetical order below are balance sheet items for Smyth Company at December 31, 2020. Kathy Smyth is the owner of Smyth Company. Prepare a balance sheet, following the format of Illustration 1.9. Accounts payable ............$90,000 Accounts receivable ..........62,500 Cash ....................................49,000 Owners capital ..................21,500
Chapter 1, Brief Exercises #10
In alphabetical order below are balance sheet items for Smyth Company at December 31, 2020. Kathy Smyth is the owner of Smyth Company. Prepare a balance sheet, following the format of Illustration 1.9.
Accounts payable ............$90,000
Accounts receivable ..........62,500
Cash ....................................49,000
Owner’s capital ..................21,500
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...
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SMYTH COMPANY Balance Sheet December 31, 2020 Assets Cash.................................................................................................... …View the full answer
Related Book For 
Accounting Principles
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
ISBN: 978-1119411482