QUESTION #7

- / 10 View Policies Current Attempt in Progress In alphabetical order below are balance sheet items for Anderson Company at December 31, 2022. Lisa Anderson is the owner of Anderson Company. Accounts payable $98,900 Accounts receivable 75,500 Cash 49,700 Owner's capital 26,300 Prepare a balance sheet. (List Assets in order of liquidity.) ANDERSON COMPANY Balance Sheet For the Month Ended December 31, 2022 4 Assets $ $ - / 10 ANDERSON COMPANY Balance Sheet For the Month Ended December 31, 2022 4 Assets LA $ Liabilities and Owner's Equity to $ eTextbook and Media HW#'|-CH1 educationwileycom m pr Assessment Player un Application Question 10 of10 / 25 E View Policies Current Attempt in Progress Donna Clark opened a law ofce on July 1, 2022. On July 31, the balance sheet showed Cash 1% 5,700, Accounts Receivable $ 1,500, Supplies $ 500, Equipment $ 6,500, Accounts Payable $ 3,900, and Owner's Capital $ 10,300. During August, the following transactions occurred. 1. Collected $ 1,200 of accounts receivable. 2. Paid $ 2,400 cash on accounts payable. 3. Recognized revenue of $ 7,500 of which $ 2,900 is collected in cash and the balance is due in September. 4. Purchased additional equipment for $ 2,200, paying $ 400 in cash and the balance on account. 5. Paid salaries $ 1,800, rent forAugust$ 1,000, and advertising expenses $ 300. 6. Withdrew $ 900 in cash for personal use. 7. Received $ 1,200 from Standard Federal Bankmoney borrowed on a note payable. 8. Incurred utility expenses for month on account $ 340. (a) Prepare a tabular analysis of the August transactions beginning with July 31 balances. (if a transaction results in a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See lIlustmtion 1-8 for example.)