### Bethesda Mining Company Balance Sheets#### As of December 31, 2018 and 2019---#### Assets**Current Assets:**- **Cash** - 2018: $29,266 - 2019: $38,098- **Accounts Receivable** - 2018: $58,281 - 2019: $76,839- **Inventory** - 2018: $133,148 - 2019: $199,946- **Total Current Assets** - 2018: $220,695 - 2019: $316,683**Fixed Assets:**- **Net Plant and Equipment** - 2018: $657,347 - 2019: $589,278- **Total Assets** - 2018: $878,042 - 2019: $905,961---#### Liabilities and Owners’ Equity**Current Liabilities:**- **Accounts Payable** - 2018: $193,922 - 2019: $201,611- **Notes Payable** - 2018: $89,020 - 2019: $140,588- **Total Current Liabilities** - 2018: $282,942 - 2019: $342,199**Long-term Debt:** - 2018: $245,000 - 2019: $181,750**Owners' Equity:**- **Common Stock and Paid-in Surplus** - 2018: $210,000 - 2019: $210,000- **Accumulated Retained Earnings** - 2018: $140,100 - 2019: $172,012- **Total Owners’ Equity** - 2018: $350,100 - 2019: $382,012**Total Liabilities and Owners' Equity:** - 2018: $878,042 - 2019: $905,961---### Explanation of the Balance Sheet:This balance sheet presents a snapshot of the financial position of Bethesda Mining Company at the end of 2018 and 2019. It

Name: ### Bethesda Mining Company Balance Sheets#### As of December 31, 201
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Description: ### Bethesda Mining Company Balance Sheets#### As of December 31, 2018 and 2019---#### Assets**Current Assets:**- **Cash** - 2018: $29,266 - 2019: $38,098- **Accounts Receivable** - 2018: $58,281 - 2019: $76,839- **Inventory** - 2018:

Common size balance sheet : It is a balance sheet that displays both the numeric value and relative…

Answered: Balance Sheets as of December 31, 2018…

Business

Accounting

Balance Sheets as of December 31, 2018 and 2019 2018 2019 Assets

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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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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Question

### Bethesda Mining Company Balance Sheets

#### As of December 31, 2018 and 2019

---

#### Assets

**Current Assets:**

- **Cash**
- 2018: $29,266
- 2019: $38,098

- **Accounts Receivable**
- 2018: $58,281
- 2019: $76,839

- **Inventory**
- 2018: $133,148
- 2019: $199,946

- **Total Current Assets**
- 2018: $220,695
- 2019: $316,683

**Fixed Assets:**

- **Net Plant and Equipment**
- 2018: $657,347
- 2019: $589,278

- **Total Assets**
- 2018: $878,042
- 2019: $905,961

---

#### Liabilities and Owners’ Equity

**Current Liabilities:**

- **Accounts Payable**
- 2018: $193,922
- 2019: $201,611

- **Notes Payable**
- 2018: $89,020
- 2019: $140,588

- **Total Current Liabilities**
- 2018: $282,942
- 2019: $342,199

**Long-term Debt:**
- 2018: $245,000
- 2019: $181,750

**Owners' Equity:**

- **Common Stock and Paid-in Surplus**
- 2018: $210,000
- 2019: $210,000

- **Accumulated Retained Earnings**
- 2018: $140,100
- 2019: $172,012

- **Total Owners’ Equity**
- 2018: $350,100
- 2019: $382,012

**Total Liabilities and Owners' Equity:**
- 2018: $878,042
- 2019: $905,961

---

### Explanation of the Balance Sheet:

This balance sheet presents a snapshot of the financial position of Bethesda Mining Company at the end of 2018 and 2019. It

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