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From the following, prepare a classified balance sheet for Bach Crawlers as of December 31, 2020. Ending merchandise inventory was $6,000 for the year. $ 8,000 2,600 6,000 7,000 Accounts payable Salaries payable Note payable (long term) P. Bach, capital* $2,800 2,600 10,000 14,200 Cash Prepaid rent Prepaid insurance Office equipment (net) *What the owner supplies to the business. Replaces common stock and retained earnings section.

From the following, prepare a classified balance sheet for Bach Crawlers as of December 31, 2020. Ending merchandise inventory was $6,000 for the year. $ 8,000 2,600 6,000 7,000 Accounts payable Salaries payable Note payable (long term) P. Bach, capital* $2,800 2,600 10,000 14,200 Cash Prepaid rent Prepaid insurance Office equipment (net) *What the owner supplies to the business. Replaces common stock and retained earnings section.

FINANCIAL ACCOUNTING
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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From the following, prepare a classified balance sheet for Bach Crawlers as of December 31, 2020. Ending merchandise inventory was $6,000 for the year. $ 8,000 2,600 6,000 7,000 Accounts payable Salaries payable Note payable (long term) P. Bach, capital* $2,800 2,600 10,000 14,200 Cash Prepaid rent Prepaid insurance Office equipment (net) *What the owner supplies to the business. Replaces common stock and retained earnings section.
Transcribed Image Text:From the following, prepare a classified balance sheet for Bach Crawlers as of December 31, 2020. Ending merchandise inventory was $6,000 for the year. $ 8,000 2,600 6,000 7,000 Accounts payable Salaries payable Note payable (long term) P. Bach, capital* $2,800 2,600 10,000 14,200 Cash Prepaid rent Prepaid insurance Office equipment (net) *What the owner supplies to the business. Replaces common stock and retained earnings section.
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