Homework Help is Here – Start Your Trial Now!
Business
Accounting
Cash on hand Cash on bank Accounts 60,000 1,860,000 2,000,000 receivable Allowance for bad debts 300,000 Advances to 40,000 employees Advances to 30,000 suppliers Inventories Prepaid supplies Land Equipment Accumulated depreciation- equipment Accounts payable Salaries payable Unearned income Notes payable (due 2017) Interest payable (due 2016) Owner's capital Totals 1,200,000 800,000 2,200,000 3,400,000 2,000,000 720,000 70,000 500,000 3,000,000 340,000 4,660,000 11,590,000 11,590,000

Cash on hand Cash on bank Accounts 60,000 1,860,000 2,000,000 receivable Allowance for bad debts 300,000 Advances to 40,000 employees Advances to 30,000 suppliers Inventories Prepaid supplies Land Equipment Accumulated depreciation- equipment Accounts payable Salaries payable Unearned income Notes payable (due 2017) Interest payable (due 2016) Owner's capital Totals 1,200,000 800,000 2,200,000 3,400,000 2,000,000 720,000 70,000 500,000 3,000,000 340,000 4,660,000 11,590,000 11,590,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
100%

Balance sheet

Accounts Credit Cash on hand Cash on bank Debit 60,000 1,860,000 2,000,000 Accounts receivable Allowance for bad 300,000 debts Advances to 40,000 employees Advances to suppliers 30,000 Inventories 1,200,000 800,000 2,200,000 3,400,000 Prepaid supplies Land Equipment Accumulated depreciation- equipment Accounts payable Salaries payable Uneamed income Notes payable (due 2017) Interest payable (due 2016) Owner's capital 2,000,000 720,000 70,000 500,000 3,000,000 340,000 4,660,000 Totals 11,590,000 11,590,000
Transcribed Image Text:Accounts Credit Cash on hand Cash on bank Debit 60,000 1,860,000 2,000,000 Accounts receivable Allowance for bad 300,000 debts Advances to 40,000 employees Advances to suppliers 30,000 Inventories 1,200,000 800,000 2,200,000 3,400,000 Prepaid supplies Land Equipment Accumulated depreciation- equipment Accounts payable Salaries payable Uneamed income Notes payable (due 2017) Interest payable (due 2016) Owner's capital 2,000,000 720,000 70,000 500,000 3,000,000 340,000 4,660,000 Totals 11,590,000 11,590,000
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Financial Statement Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS