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
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
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.
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