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Presented below are the assets of Blue Jeans Trading. Prepare the assets section of the balance sheet for year ended December 31, 2019 together with the supporting notes. Cash on Hand 200,000 Accounts Receivable 100,000 5,000 40,000 12,000 Allowance for Bad Debts Notes Receivable Interest Receivable Advances to Employees Accrued Income 20,000 10,000 1,000 Supplies Prepaid Rent 7,000 Land 400,000 700,000 Building Accumulated Depreciation - Building 50,000 Equipment 100,000 Accumulated Depreciation - Equipment 30,000 Furniture & Fixtures 80,000

Presented below are the assets of Blue Jeans Trading. Prepare the assets section of the balance sheet for year ended December 31, 2019 together with the supporting notes. Cash on Hand 200,000 Accounts Receivable 100,000 5,000 40,000 12,000 Allowance for Bad Debts Notes Receivable Interest Receivable Advances to Employees Accrued Income 20,000 10,000 1,000 Supplies Prepaid Rent 7,000 Land 400,000 700,000 Building Accumulated Depreciation - Building 50,000 Equipment 100,000 Accumulated Depreciation - Equipment 30,000 Furniture & Fixtures 80,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Interest Receivable 10,000 Advances to Employees 10,000 5,000 100,000 Accrued Income Note 7- Prepaid Expenses Supplies Prepaid Insurance 25,000 70,000 95,000 Note 8 - Property, Plant, and Equipment Land 180,000 500,000 Building Less: Accumulated Depreciation Equipment Less: Accumulated Depreciation Furniture & Fixtures Total 20,000 480,000 50,000 20,000 30,000 10,000 700,000 Activity 1.1 Presented below are the assets of Blue Jeans Trading. Prepare the assets section of the balance sheet for year ended December 31, 2019 together with the supporting notes. Cash on Hand 200,000 Accounts Receivable 100,000 Allowance for Bad Debts 5,000 40,000 Notes Receivable 12,000 20,000 10,000 Interest Receivable Advances to Employees Accrued Income Supplies Prepaid Rent 1,000 7,000 400,000 700,000 50,000 Land Building Accumulated Depreciation - Building Equipment Accumulated Depreciation - Equipment Furniture & Fixtures 100,000 30,000 80,000 If assets can be subdivided into current and noncurrent assets, liabilities are also classified in the same manner. The following section discusses the different types of debts that are classified and presented based on their maturity. Obligations presently due for payment are listed first.
Transcribed Image Text:Interest Receivable 10,000 Advances to Employees 10,000 5,000 100,000 Accrued Income Note 7- Prepaid Expenses Supplies Prepaid Insurance 25,000 70,000 95,000 Note 8 - Property, Plant, and Equipment Land 180,000 500,000 Building Less: Accumulated Depreciation Equipment Less: Accumulated Depreciation Furniture & Fixtures Total 20,000 480,000 50,000 20,000 30,000 10,000 700,000 Activity 1.1 Presented below are the assets of Blue Jeans Trading. Prepare the assets section of the balance sheet for year ended December 31, 2019 together with the supporting notes. Cash on Hand 200,000 Accounts Receivable 100,000 Allowance for Bad Debts 5,000 40,000 Notes Receivable 12,000 20,000 10,000 Interest Receivable Advances to Employees Accrued Income Supplies Prepaid Rent 1,000 7,000 400,000 700,000 50,000 Land Building Accumulated Depreciation - Building Equipment Accumulated Depreciation - Equipment Furniture & Fixtures 100,000 30,000 80,000 If assets can be subdivided into current and noncurrent assets, liabilities are also classified in the same manner. The following section discusses the different types of debts that are classified and presented based on their maturity. Obligations presently due for payment are listed first.
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