Question

please help

Pre Plan and Eument Eement Less Accumulated Depreciation Equipment 172750 Liabilities and Stockholders' Equity Current Lates Accounts Payable Uneamed Service Revenue Property Tab Total Current

i need help finding the extra account on tge balance sheet there are blank spots

Answer 1

Solution

Marigold Company

Marigold Company
Balance Sheet (Partial)
As of September 30, 2020
Liabilities and Stockholders' Equity
Current Liabilities
Accounts Payable		$15,840
Unearned Service Revenue		$634
Interest Payable		6,280
Property Tax Payable		3,340
total current liabilities			26,094
Long-term liabilities
Mortgage Payable			52,480
Total Liabilities			78,574
Stockholders' Equity
Common Stock		$115,180
Retained Earnings		25,731
Total Stockholders' Equity			$140,911
Total Liabilities and Stockholders' Equity			$219,485

Retained earnings balance = retained earnings + net income – dividends

Retained earnings = 2,000 + 37,731 – 14,000 = 25,731

Note:

Since, the attempted balance sheet shows correct balances of all the assets accounts, I have posted only the liabilities section of the balance sheet.

Note: the solution attempted in the question is full correct. All the current liabilities are provided for and there is no item left behind. Maybe an extra spot is provided the balance sheet template.

All the payable accounts are reported in the attempted solution.

Now, the total of assets equals to total of liabilities, which is $219,485.