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

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

Section: Chapter Questions

Problem 1Q

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