Use this balance sheet as a base to create a new balance sheet. This balance sheet...

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Use this balance sheet as a base to create a new balance sheet. This balance sheet was the end of a month balance sheet for January. Assets Cash Inventory Fixed Assets $110,000 $34,000 $446,000 Inventory Fixed Assets Liabilities Accounts Payable Notes Payable Total Liabilities Owner's Equity Original Investment Earning MTD Retained Earnings Total Owner's Equity Total Assets $590,000 Prepare a new balance sheet to begin the new month Feb 1 Assets Liabilities Cash Accounts Payable Total Liabilities & Owner's Equity Notes Payable Total Liabilities $6,200 $265.000 Owner's Equity Original Investment Earning MTD Retained Earnings Total Owner's Equity $200,000 $ 6,990 $111.810 $271,200 $318,800 $590,000 Total Assets Total Liabilities & Owner's Equity After completing the new balance sheet to begin the month, answer the following questions? What dollar values would you enter into the following accounts? Total Assets Earnings MTD Retained Earnings Total Liabilities (not total liabilities & owners equity) Use this balance sheet as a base to create a new balance sheet. This balance sheet was the end of a month balance sheet for January. Assets Cash Inventory Fixed Assets $110,000 $34,000 $446,000 Inventory Fixed Assets Liabilities Accounts Payable Notes Payable Total Liabilities Owner's Equity Original Investment Earning MTD Retained Earnings Total Owner's Equity Total Assets $590,000 Prepare a new balance sheet to begin the new month Feb 1 Assets Liabilities Cash Accounts Payable Total Liabilities & Owner's Equity Notes Payable Total Liabilities $6,200 $265.000 Owner's Equity Original Investment Earning MTD Retained Earnings Total Owner's Equity $200,000 $ 6,990 $111.810 $271,200 $318,800 $590,000 Total Assets Total Liabilities & Owner's Equity After completing the new balance sheet to begin the month, answer the following questions? What dollar values would you enter into the following accounts? Total Assets Earnings MTD Retained Earnings Total Liabilities (not total liabilities & owners equity)

Answer rating: 100% (QA)

Here is the new balance sheet to begin the month of February Assets Cash 110000 Inve... View the full answer