6. Given the following data, create a balance sheet for January and February: Account January February Accumulated Depreciation $500 $1,000 Accounts Payable $1,000 $11,000 Accounts Receivable $49,500 $62,000 Bank Loan Payable $40,000 $35,000 Cash $9,000 $2,000 Equipment $10,000 $10,000 Owners' Investment $20,000 $20,000 Retained Earnings $7,000 $7,000 Balance Sheet Assets Current Assets Cash Accounts Receivable Total Current Assets Plant, Property and Equipment Less: Accumulated Depreciation Total Plant, Property and Equipment Total Assets Liabilities and Owners' Equity Liabilities Current Liabilities Accounts Payable Total Current Liabilities Long-Term Liabilities Bank Loan Payable Total Long-Term Liabilities Total Liabilities Owners' Equity Owners' Investment Retained Earnings Total Owners' Equity Total Liabilities and Owners' Equity January February

6. Given the following data, create a balance sheet for January and February: Account January February Accumulated Depreciation $500 $1,000 Accounts Payable $1,000 $11,000 Accounts Receivable $49,500 $62,000 Bank Loan Payable $40,000 $35,000 Cash $9,000 $2,000 Equipment $10,000 $10,000 Owners' Investment $20,000 $20,000 Retained Earnings $7,000 $7,000 Balance Sheet Assets Current Assets Cash Accounts Receivable Total Current Assets Plant, Property and Equipment Less: Accumulated Depreciation Total Plant, Property and Equipment Total Assets Liabilities and Owners' Equity Liabilities Current Liabilities Accounts Payable Total Current Liabilities Long-Term Liabilities Bank Loan Payable Total Long-Term Liabilities Total Liabilities Owners' Equity Owners' Investment Retained Earnings Total Owners' Equity Total Liabilities and Owners' Equity January February

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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