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Wolfpack Construction has the following account balances at the end of the year.   Accounts Balances   Equipment...

Wolfpack Construction has the following account balances at the end of the year.

  Accounts Balances
  Equipment $ 19,000
  Accounts payable 1,600
  Salaries expense 26,000
  Common stock 12,000
  Land 11,000
  Notes payable 13,000
  Service revenue 32,000
  Cash 4,600
  Retained earnings ?

Use only the appropriate accounts to prepare a balance sheet.

WOLFPACK CONSTRUCTION
Balance Sheet
Assets Liabilities
Total liabilities
Stockholders’ Equity
Total stockholders’ equity
Total assets Total liabilities and stockholders’ equity
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Answer #1

Balance sheet

Assets Liabilities
Cash 4600 Account payable 1600
Land 11000 Notes payable 13000
Equipment 19000
Total liabilities 14600
Stockholder's equity
Common Stock 12000
Retained earnings 8000
Total Stockholder's equity 20000
Total assets 34600 Total liabilities and stockholders’ equity 34600
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