Question: C Ltd. Has collected the following data and asks you to prepare the Balance Sheet at 12/31/20X2: Balance Sheet Items 12/31/20X2 12/31/20X1 Accounts Payable to
C Ltd. Has collected the following data and asks you to prepare the Balance Sheet at 12/31/20X2:
| Balance Sheet Items | 12/31/20X2 | 12/31/20X1 |
| Accounts Payable to Suppliers | $29,000 | $ 27,000 |
| Accounts Receivable from Customers | $29,000 | $ 24,000 |
| Bonds Payable | $19,460 | $19,460 |
| Buildings (net of depreciation) | $11,000 | $12,000 |
| Cash | $7,000 | $3,000 |
| Land | $19,460 | $19,460 |
| Equipment (net of depreciation) | $23,000 | $17,000 |
| Income Taxes Payable | $7,000 | $5,000 |
| Common Stock | $9,000 | $6,000 |
| Merchandise Inventory | $8,585 | $ 8,000 |
| Retained Earnings | $25,000 | $25,000 |
| Salaries Payable | $8,585 | $1,000 |
Required 1: AC's Current assets as of 12/31/20X2 must have been: $_______?
Required 2: AC's Non Current Assets as of 12/31/20X2 must have been: $_______?
Required 3: AC's Total Assets as of 12/31/20X2 must have been: $_______?
Required 4: AC's Current Liabilities as of 12/31/20X2 must have been: $_______?
Required 5: AC's Non Current liabilities as of 12/31/20X2 must have been: $___________?
Required 6: AC's Total Liabilities as of 12/31/20X2 must have been: $________?
Required 7: AC's Owner's Equity as of 12/31/20X2 must have been: $_________?
Required 8: AC's Total Liabilities and Owner's Equity as of 12/31/20X2 must have been:_______?
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