Prepare a balance sheet using the following information
Prepare a
Assets
Current assets
Cash |
$12,000 |
Accounts receivable. |
2,500 |
Merchandise inventory |
22,000 |
Total current assets |
36,500 |
Plant and equipment
Equipment |
46,000 |
Total plant and equipment |
46,000 |
Total assets. |
$82,500
|
Liabilities
Current Liabilities
Accounts payable |
$ 6,800 |
Wages payable |
2,600 |
Total current liabilities |
9,400 |
Long-term liabilities
Mortgage note payable |
22,000 |
Total long-term liabilities |
22,000 |
Total liabilities |
31,400 |
Owner's Equity
Capital |
51,100 |
Total liabilities and owner's equity |
$82,500 |
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