Exercise 6 From the list of account balances below, prepare in good form a balance sheet for Reyna's Department Store at December 31, Year 7. Debit Balances Credit Balances Cash Marketable Securities $ 3,000 13,500 Accounts Receivable Building Notes Payable (due in one year) Patent Accumulated Depreciation Property Taxes Payable Accounts Payable 28,500|| 37,500| $ 16,500 6,000 9,000 6,000 21,750 Retained Earnings Common Stock Bonds Payable 58,350 37,500 60,000 Inventory Land Investment in IBM Common Stock Investment in Florida Power Bonds Prepaid Insurance 22,500 75,000 21,000|| 9,000|| 750 Withheld Income Taxes Additional Paid-in Capital Goodwill 1,650 17,250 11,250 Totals $228.000 $228,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Exercise 6
From the list of account balances below, prepare in good form a balance sheet for Reyna's Department Store at December 31, Year 7.
Debit Balances
Credit Balances
Cash
Marketable Securities
Accounts Receivable
$ 3,000
|
13,500
28,500
37,500
Building
Notes Payable (due in one year)
$ 16,500
Patent
6,000
Accumulated Depreciation
Property Taxes Payable
Accounts Payable
Retained Earnings
9,000
6,000
21,750
58,350
Common Stock
Bonds Payable
37,500
60,000
Inventory
22,500|
Land
75,000
Investment in IBM Common Stock
Investment in Florida Power Bonds
Prepaid Insurance
21,000
9,000
750|
Withheld Income Taxes
1,650
Additional Paid-in Capital
17,250
Goodwill
11,250
Totals
$228.000
$228,000
Transcribed Image Text:Exercise 6 From the list of account balances below, prepare in good form a balance sheet for Reyna's Department Store at December 31, Year 7. Debit Balances Credit Balances Cash Marketable Securities Accounts Receivable $ 3,000 | 13,500 28,500 37,500 Building Notes Payable (due in one year) $ 16,500 Patent 6,000 Accumulated Depreciation Property Taxes Payable Accounts Payable Retained Earnings 9,000 6,000 21,750 58,350 Common Stock Bonds Payable 37,500 60,000 Inventory 22,500| Land 75,000 Investment in IBM Common Stock Investment in Florida Power Bonds Prepaid Insurance 21,000 9,000 750| Withheld Income Taxes 1,650 Additional Paid-in Capital 17,250 Goodwill 11,250 Totals $228.000 $228,000
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