Question: Q5. Preparing a Balance Sheet: Prepare a balance sheet for Maskara Ltd. as of December 31, 2010, based on the following information: cash =

Q5. Preparing a Balance Sheet: Prepare a balance sheet for Maskara Ltd.

Q5. Preparing a Balance Sheet: Prepare a balance sheet for Maskara Ltd. as of December 31, 2010, based on the following information: cash = $193,000; patents and copyrights = $847,000; accounts payable = $296,000; accounts receivable = $253,000; tangible net fixed assets = $5,100,000; inventory = $538,000; notes payable = $189,000; accumulated retained earnings = $4,586,000; long-term debt = $1,250,000.

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