Prepare Pritchett's Closets & Blinds Balance Sheet as at December 

$31,2020.$

At the end of December $31,2020,$ Pritchett's Closets & Blinds accounts are as follows:

Accumulated depreciation $$100,000$

Current income taxes payable $5,000$

Long$-$term loans $25,000$

Inventories $90,000$

Accounts Receivable $60,000$

Fixed Assets $300,000$

Accounts Payable $40,000$

Mortgage $130,000$

Accrued expenses $10,000$

Future income taxes payable $5,000$

Share capital $100,000$

Prepaid expenses $10,000$

Intangible assets $20,000$

Cash $25,000$

Retained earnings $80,000$

Short$-$term Loans $10,000$

Answer rating: 100% (QA)

Pritchetts Closets Blinds Balance Sheet As at December 31 2020 Assets Current Assets Cash 25000 Acco... View the full answer