Prepare balance sheets for Ebony Interiors as of March 31, 2018.Ebony InteriorsBalance SheetMarch 31, 2018Assets $Cash Accounts receivable Supplies Total assets Liabilities $Accounts payableStockholders' Equity $Common stock Retained earnings Total stockholders' equity fill in the blank dff07100effdffe_14Total liabilities and stockholders' equity $fill in the blank dff07100effdffe_15 Financial information related to the corporation of Ebony Interiors for February and March 2018 is as follows:February 28, 2018March 31, 2018Cash202,400343,600Accounts receivable114,700131,800Supplies10,1008,400Accounts payable$51,900$56,100Common stock130,000130,000Retained earnings??a. Prepare balance sheets for Ebony Interiors as of February 28, 2018.Ebony InteriorsBalance SheetFebruary 28, 2018AssetsCash202,400Accounts receivable114,700 VSupplies10,100Total assets327,200LiabilitiesAccounts payable51,900 LiabilitiesAccounts payable51,900Stockholders' EquityCommon stock130,000Retained earnings152,800 xTotal stockholders' equity40,000 XTotal liabilities and stockholders' equity186,600 XFeedback

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Description: Prepare balance sheets for Ebony Interiors as of March 31, 2018.Ebony InteriorsBalance SheetMarch 31, 2018Assets $Cash Accounts receivable Supplies Total assets Liabilities $Accounts payableStockholders' Equity $Common stock Retained earnings To

>Balance Sheet is one of the financial statement, which shows the balances of assets,…

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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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Prepare balance sheets for Ebony Interiors as of March 31, 2018.

Ebony InteriorsBalance SheetMarch 31, 2018

Assets
	$Cash
	Accounts receivable
	Supplies
Total assets
Liabilities
		$Accounts payable
Stockholders' Equity
	$Common stock
	Retained earnings
Total stockholders' equity		fill in the blank dff07100effdffe_14
Total liabilities and stockholders' equity		$fill in the blank dff07100effdffe_15

Financial information related to the corporation of Ebony Interiors for February and March 2018 is as follows:
February 28, 2018
March 31, 2018
Cash
202,400
343,600
Accounts receivable
114,700
131,800
Supplies
10,100
8,400
Accounts payable
$51,900
$56,100
Common stock
130,000
130,000
Retained earnings
?
?
a. Prepare balance sheets for Ebony Interiors as of February 28, 2018.
Ebony Interiors
Balance Sheet
February 28, 2018
Assets
Cash
202,400
Accounts receivable
114,700 V
Supplies
10,100
Total assets
327,200
Liabilities
Accounts payable
51,900

Liabilities
Accounts payable
51,900
Stockholders' Equity
Common stock
130,000
Retained earnings
152,800 x
Total stockholders' equity
40,000 X
Total liabilities and stockholders' equity
186,600 X
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