From the data provided below, which items do I select to create a balance sheet?
I am supposed to have 7 rows for the left and right-hand side of the balance sheet.
Cash | 30,629 |
Depreciation | 56,876 |
Interest expense | 13,130 |
Accounts Payable | 52,910 |
Net Fixed Assets | 262,617 |
Accounts Receivable | 21,524 |
Notes Payable | 24,308 |
Long-term Debt | 129,342 |
Inventory | 45,785 |
The following will be shown in the assets and liabilities side of the balance sheet
Assets: | |
Cash | $30,269 |
Accounts receivable | 21,524 |
Inventory | 45,785 |
Net fixed assets | 262,617 |
Liabilities: | |
Accounts payable | 52,910 |
Notes payable | 24,308 |
Long term debt | 129,342 |
From the data provided below, which items do I select to create a balance sheet? I...
For your balance sheet, you want to calculate the asset side (left hand side) and then total liabilities from the right-hand side. Then place in the owner’s equity number that balances both sides. So, place in the owner’s equity number last after you have calculated the assets on the left-hand side and total liabilities on the right-hand side. The top left-hand side will include all Current Assets. Below that will include Net Fixed assets. Then total them up to come...
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Presented below are a number of balance sheet items for Crane,
Inc. for the current year, 2020.
Goodwill
$ 129,340
Accumulated Depreciation-Equipment
$ 292,330
Payroll Taxes Payable
181,931
Inventory
244,140
Bonds payable
304,340
Rent payable (short-term)
49,340
Discount on bonds payable
15,330
Income taxes payable
102,702
Cash
364,340
Rent payable (long-term)
484,340
Land
484,340
Common stock, $1 par value
204,340
Notes receivable
450,040
Preferred stock, $10 par value
154,340
Notes payable (to banks)
269,340
Prepaid expenses
92,260
Accounts payable
494,340...
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