Homework Answers
| Clear Water Co. | ||
| Balance Sheet | ||
| 31 st December | ||
| Assets | ||
| Particulars | Amount (In $) | Amount (In $) |
| Current Assets | ||
| Accounts Rerceivable | 2,200 | |
| Merchandise Inventory | 7,400 | |
| Office Supplies | 1,400 | |
| Cash | 8,400 | |
| Total Current Assets | 19,400 | |
| Plant Assets | ||
| Buildings | 30,000 | |
| Land | 13,000 | |
| Total Plant Assets | 43,000 | |
| Total Assets | 62,400 | |
| Liabilities | ||
| Current Liabilities | ||
| Accounts Payable | 5,200 | |
| Wages Payable | 3,200 | |
| Total Current Liabilities | 8,400 | |
| Long Term Liabilities | ||
| Notes Payable (Due in 7 years) | 34,000 | |
| Total Liabilities | 42,400 | |
| Equity | ||
| Capital | 20,000 | |
| Total Liabilities and Equity | 62,400 |
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