Question

Prepare a balance sheet for Alaskan Peach Corp. as of December 31, 2019, based on the following information: cash = $195,000; patents and copyrights = $849,000; accounts payable $294,000; accounts receivable $255,000; tangible net fixed assets = $5,120,000; inventory $540,000; notes payable = $187,000; accumulated retained earnings $4,606,000; long-term debt $1,230,000. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) = = Balance Sheet Assets Current assets Total assets Liabilities

Answer 1

195000 255000 540000 990000 5120000 849000 6959000 Answer: Balance Sheet Assets Current Assets Cash Accounts Receivable Inventory Current Assets Tangible Net Fixed Assets Intangible Net Fixed Assets Total Assets Liabilities Current Liabilities: Accounts Payable Notes Payable Current Liabilities Long term Debt Total Liabilities Owners Equity Common Stock Accumulated Retained Earnings Total Liabilities & Owners Equity 294000 18 7000 481000 1230000 1711000 642000 4606000 6959000