Question

Prepare a balance sheet for Alaskan Peach Corp. as of December 31, 2019, based on the following information: cash = $206,000; patents and copyrights = $860,000; accounts payable = $283,000; accounts receivable = $266,000; tangible net fixed assets = $5,230,000; inventory = $551,000; notes payable = $176,000; accumulated retained earnings = $4,716,000; long-term debt = $1,120,000. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)

Answer 1

Balance Sheet
Liablities	Amount	Assets	Amount
Shareholder's Equity (Balancing Figure)	$818,000	Tangible Fixed Assets	$5,230,000
Accumulated Retained Earning	$4,716,000	Patent and copyrights	$860,000
Long term debt	$1,120,000	Accounts Receivable	$266,000
Notes Payable	$176,000	Inventory	$551,000
Accounts Payable	$283,000	Cash	$206,000
	$7,113,000		$7,113,000

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