The accounting records of Nettle Distribution show the following assets and liabilities as of December 31...
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The accounting records of Nettle Distribution show the following assets and liabilities as of December 31 for Year 1 and Year 2. December 31 Cash Accounts receivable office supplies office equipment Trucks Building Land Accounts payable Note payable Year 1 $ 52,503 28,499 4,496 138,001 54,001 0 Ø 74,925 Year 2 $ 9,816 22,344 3,293 146,997 63,001 180,018 44,921 37,161 124,939 Required: 1. Prepare balance sheets for the business as of December 31 for Year 1 and for Year 2. Hint Report only total equity on the balance sheet and remember that total equity equals the difference between assets and abilities. The accounting records of Nettle Distribution show the following assets and liabilities as of December 31 for Year 1 and Year 2. December 31 Cash Accounts receivable office supplies office equipment Trucks Building Land Accounts payable Note payable Year 1 $ 52,503 28,499 4,496 138,001 54,001 0 Ø 74,925 Year 2 $ 9,816 22,344 3,293 146,997 63,001 180,018 44,921 37,161 124,939 Required: 1. Prepare balance sheets for the business as of December 31 for Year 1 and for Year 2. Hint Report only total equity on the balance sheet and remember that total equity equals the difference between assets and abilities.
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Lets start with Year 1 Balance Sheet for Nettle Distribution December 31 Year 1 AS... View the full answer
Related Book For
Financial Accounting Information for Decisions
ISBN: 978-1259533006
8th edition
Authors: John J. Wild
Posted Date:
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