The balance sheet items for a circus Company (arranged in alphabetical order) were as follows at March 1, 2020: Notes payable Notes Receivable Equipment Retained earnings Salaries payable Tents Trucks and wagons Accounts Payable Account Receivable Animals $25,000 $5,600 $310,000 $15,000 $4000,000 $115,000 $1200 $108,000 $89,000 $ 1250 $40,000 $125,300 Cages Capital Stock Cash Costumes $16,000 Instructions: Prepare a Balance sheet at December 31, 2019 include a proper heading and compute the amount of cash as part of Current Assets.
The balance sheet items for a circus Company (arranged in alphabetical order) were as follows at March 1, 2020: Notes payable Notes Receivable Equipment Retained earnings Salaries payable Tents Trucks and wagons Accounts Payable Account Receivable Animals $25,000 $5,600 $310,000 $15,000 $4000,000 $115,000 $1200 $108,000 $89,000 $ 1250 $40,000 $125,300 Cages Capital Stock Cash Costumes $16,000 Instructions: Prepare a Balance sheet at December 31, 2019 include a proper heading and compute the amount of cash as part of Current Assets.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Topic Video
Question
![The balance sheet items for a circus Company (arranged in alphabetical order) were as follows at March 1,
2020:
$25,000
$5,600
$310,000
$15,000
$4000,000
$115,000
$1200
$108,000
$89,000
$ 1250
$40,000
$125,300
Accounts Payable
Account Receivable
Animals
Notes payable
Notes Receivable
Equipment
Retained earnings
Salaries payable
Tents
Trucks and wagons
Cages
Capital Stock
Cash
Costumes
$16,000
Instructions:
Prepare a Balance sheet at December 31, 2019 include a proper heading and compute the amount of cash as
part of Current Assets.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc5790873-9737-4ea8-919d-507c90a2433d%2Fc37aa4a9-d4a6-4699-82f4-467bd9dcf4c8%2Fr8q43rh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The balance sheet items for a circus Company (arranged in alphabetical order) were as follows at March 1,
2020:
$25,000
$5,600
$310,000
$15,000
$4000,000
$115,000
$1200
$108,000
$89,000
$ 1250
$40,000
$125,300
Accounts Payable
Account Receivable
Animals
Notes payable
Notes Receivable
Equipment
Retained earnings
Salaries payable
Tents
Trucks and wagons
Cages
Capital Stock
Cash
Costumes
$16,000
Instructions:
Prepare a Balance sheet at December 31, 2019 include a proper heading and compute the amount of cash as
part of Current Assets.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education