21-40. Using the following (scrambled) accounts, prepare a balance sheet for ABC, a retail company, for the year ending in December 31, 2014. Assume that these are the only Balance Sheet Accounts. In Peso Sign. Accounts Payable 39,000 Accrued Expenses 8,000 Accumulated Depreciation 51,000 Additional Paid-in Capital 86,000 Allowance for Doubtful Accounts 2,000 Cash 23,000 Common Stock (PHPO.20 par) 45,000 Current Portion ofLT. Debt 6,000 Gross Accounts Receivable 40,000 Gross Fixed Assets 486,000 Inventonies 54,000 Long-Term Debt 210,000 Net Accounts Receivable 38,000 Net Fixed Assets 435,000 Retained Eamings 138,000 Short-Term Bank Loan (Notes 18,000 Payable)
21-40. Using the following (scrambled) accounts, prepare a balance sheet for ABC, a retail company, for the year ending in December 31, 2014. Assume that these are the only Balance Sheet Accounts. In Peso Sign. Accounts Payable 39,000 Accrued Expenses 8,000 Accumulated Depreciation 51,000 Additional Paid-in Capital 86,000 Allowance for Doubtful Accounts 2,000 Cash 23,000 Common Stock (PHPO.20 par) 45,000 Current Portion ofLT. Debt 6,000 Gross Accounts Receivable 40,000 Gross Fixed Assets 486,000 Inventonies 54,000 Long-Term Debt 210,000 Net Accounts Receivable 38,000 Net Fixed Assets 435,000 Retained Eamings 138,000 Short-Term Bank Loan (Notes 18,000 Payable)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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21-40. Using the following (scrambled) accounts, prepare a
balance sheet for ABC, a retail company, for the year ending in
December 31, 2014. Assume that these are the only Balance Sheet
Accounts. In Peso Sign.
Accounts Payable
39,000
Accrued Expenses
8,000
Accumulated Depreciation
51,000
Additional Paid-In Capital
86,000
Allowance for Doubtful Accounts
2,000
Cash
23,000
Common Stock (PHPO.20 par)
45,000
Current Portion of L.T. Debt
6,000
Gross Accounts Receivable
40,000
Gross Fixed Assets
486.000
Inventories
54,000
Long-Term Debt
210,000
Net Accounts Receivable
38,000
Net Fixed Assets
435.000
Retained Earnings
138,000
Short-Term Bank Loan (Notes
18,000
Payable)
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