Question

54-12 (similar to) Question Help The accounting records for ALB, Inc., reflected the following amounts at the end of July 2018 (Click the icon to view the accounts.) Prepare the classified balance sheet for ALB, Inc., at July 31, 2018. Use the report format. Begin by preparing the heading and completing the assets section of the balance sheet. Next, complete the liabilities and stockholders' equity sections of the statement ALB, Inc. Balance Sheet July 31, 2018 Assets Current Assets: Choose from any list or enter any number in the input fields and then click Check Answer 1 part remaining Clear All Check Answer

Answer 1

Please give positive ratings so I can keep answering. It would help me a lot. Please comment if you have any query. Thanks!

ALB Inc.
Balance Sheet
	Amount $
Assets
Current Assets
Cash	3,200.00
Inventory	3,500.00
Accounts Receivable	3,800.00
Prepaid rent	1,400.00
Total Current Assets	11,900.00
Property plant and equipment
Equipment, net	28,100.00
Accumulated Depreciation- Equipment
Total Non Current Assets	28,100.00
Total Assets	40,000.00
Liabilities and Stockholder's Equity
Liabilities
Current Liabilities
Accounts Payable	4,900.00
Estimated Refund liability	800.00
Less: Estimated Inventory Returns	(450.00)
Salaries Payable	800.00
Accrued Liabilities	2,000.00
Current Liabilities	8,050.00
Long Term Notes Payable	16,000.00
Non Current Liabilities	16,000.00
Total Liabilities	24,050.00
Stockholder's Equity
Total Stockholder's Equity	15,950.00
Total Liabilities and Equity	40,000.00