counts receivable- 47,000 counts Payable- 50,000 paid expenses- 1,000 crued Liabilities- 12,000 t Sales- 698,000 st of Goods Sold- 520,000 sh- 46,000 ed assets-715,000 ome taxes pavable- 3.000
counts receivable- 47,000 counts Payable- 50,000 paid expenses- 1,000 crued Liabilities- 12,000 t Sales- 698,000 st of Goods Sold- 520,000 sh- 46,000 ed assets-715,000 ome taxes pavable- 3.000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Make a balance sheet for
the following:
Accounts receivable- 47,000
Accounts Payable- 50,000
Prepaid expenses- 1,000
Accrued Liabilities- 12,000
Net Sales- 698,000
Cost of Goods Sold- 520,000
Cash- 46,000
Fixed assets-715,000
Income taxes payable- 3,000
Accumulated depreciation- 103,000
Investment in stocks- 115,000
Gain on sales of investments- 12,000
Bobds payable-non current- 295,000
Operating expenses- 150,000
Common stock, P5 par- 276,00
Additional paid-in capital- 189,000
Retained Earnings- 140,000
Net income before tax- 23,000
Inventory- 144,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0f44e217-b1eb-46e0-884a-5bb722c896cd%2F0e033118-6ac1-47e5-b099-c41422e7c5b3%2Fe2m9e3g_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Make a balance sheet for
the following:
Accounts receivable- 47,000
Accounts Payable- 50,000
Prepaid expenses- 1,000
Accrued Liabilities- 12,000
Net Sales- 698,000
Cost of Goods Sold- 520,000
Cash- 46,000
Fixed assets-715,000
Income taxes payable- 3,000
Accumulated depreciation- 103,000
Investment in stocks- 115,000
Gain on sales of investments- 12,000
Bobds payable-non current- 295,000
Operating expenses- 150,000
Common stock, P5 par- 276,00
Additional paid-in capital- 189,000
Retained Earnings- 140,000
Net income before tax- 23,000
Inventory- 144,000
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
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](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education