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Prepare a December 31 balance sheet using the following select accounts and amounts. Commission revenue $ 30,500 Accounts payable 4,000 Accounts receivable 5,500 Total equity 106,000 Equipment 10,500 Advertising expense 3,700 Cash 8,000 Land 35,500 Notes payable 50,500 Supplies 2,000 Salaries expense 12,500 Salaries payable 1,500 Building 100,500 Balance Sheet December 31 Total equity

Prepare a December 31 balance sheet using the following select accounts and amounts. Commission revenue $ 30,500 Accounts payable 4,000 Accounts receivable 5,500 Total equity 106,000 Equipment 10,500 Advertising expense 3,700 Cash 8,000 Land 35,500 Notes payable 50,500 Supplies 2,000 Salaries expense 12,500 Salaries payable 1,500 Building 100,500 Balance Sheet December 31 Total equity

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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Prepare a December 31 balance sheet using the following select accounts and amounts. Commission revenue $ 30,500 Accounts payable 4,000 Accounts receivable 5,500 Total equity 106,000 Equipment 10,500 Advertising expense 3,700 Cash 8,000 Land 35,500 Notes payable 50,500 Supplies 2,000 Salaries expense 12,500 Salaries payable 1,500 Building 100,500 Balance Sheet December 31 Total equity
Transcribed Image Text:Prepare a December 31 balance sheet using the following select accounts and amounts. Commission revenue $ 30,500 Accounts payable 4,000 Accounts receivable 5,500 Total equity 106,000 Equipment 10,500 Advertising expense 3,700 Cash 8,000 Land 35,500 Notes payable 50,500 Supplies 2,000 Salaries expense 12,500 Salaries payable 1,500 Building 100,500 Balance Sheet December 31 Total equity
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