Question: Prepare a December 31 balance sheet in proper form for Smokey River Supplies from the following list of the accounts: Cash.......... $10,000 Accounts receivable.. 8,000

Prepare a December 31 balance sheet in proper form for Smokey River Supplies from the following list of the accounts:

Cash.......... $10,000
Accounts receivable.. 8,000
Supplies. 12,000
Equipment.. 35,000
Land.............. 18,000
Accounts payable.. 13,000
Notes payable.. 41,000
Common stock... 20,000

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