Balance Sheet Homework A mountain sporting goods store has recently opened in Denver. As a small...

 

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Balance Sheet Homework A mountain sporting goods store has recently opened in Denver. As a small company, they need you to use your diverse business skills in accounting. Consider the company's financial elements listed below. Organize these into a balance sheet (Items below that don't belong in a balance sheet should be excluded.) Sort by liquidity. Label major sections. Compute owner's equity and the book value. Accounts payable $10,000 Buildings $250,000 Sales $60,000 Mortgage $100,000 Unearned $1,000 revenues $2,000 Trade name Supplies $5,000 Cash $3,000 $20,000 Costs of goods sold Goodwill $10,000 Wages Payable $80,000 Accounts Receivable $100,000 Balance Sheet Homework A mountain sporting goods store has recently opened in Denver. As a small company, they need you to use your diverse business skills in accounting. Consider the company's financial elements listed below. Organize these into a balance sheet (Items below that don't belong in a balance sheet should be excluded.) Sort by liquidity. Label major sections. Compute owner's equity and the book value. Accounts payable $10,000 Buildings $250,000 Sales $60,000 Mortgage $100,000 Unearned $1,000 revenues $2,000 Trade name Supplies $5,000 Cash $3,000 $20,000 Costs of goods sold Goodwill $10,000 Wages Payable $80,000 Accounts Receivable $100,000

Answer rating: 100% (QA)

Assets Balance Sheet Current Assets Cash Account receivable Su... View the full answer