Preparing a Balance Sheet
The balance sheet items of Mercer Company as of December 31, 2011, follow in random order. You are to prepare a balance sheet for the company, using a similar sequence for assets as illustrated in Exhibit 2–9 . You must compute the amount for Retained Earnings.
Land | $90,000 | Office Equipment | $12,400 |
Accounts Payable | 43,800 | Building | 210,000 |
Accounts Receivable | 56,700 | Capital Stock | 75,000 |
Cash | 36,300 | Notes Payable | 207,000 |
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| Retained Earnings | ? |
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