Problem

Preparing a Balance SheetThe balance sheet items of Mercer Company as of December 31, 2011...

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

 

 

Retained Earnings

?

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