The following account balances were taken from the 2021 post-closing trial balance of the Bowler Corporation: cash, $9,500; accounts receivable, $14,500; inventory, $25,000; equipment, $190,000; accumulated depreciation, $58,000; accounts payable, $83,000; salaries payable, $21,000; retained earnings, $18,000; and common stock, $59,000. Prepare a 12/31/2021 balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Current assets Cash Accounts receivable Inventory Equipment Total current assets BOWLER CORPORATION Balance Sheet At December 31, 2021 Assets Liabilities and Shareholders' Equity $ $ 9,500 14,500 25,000 190,000 239,000 239,000
The following account balances were taken from the 2021 post-closing trial balance of the Bowler Corporation: cash, $9,500; accounts receivable, $14,500; inventory, $25,000; equipment, $190,000; accumulated depreciation, $58,000; accounts payable, $83,000; salaries payable, $21,000; retained earnings, $18,000; and common stock, $59,000. Prepare a 12/31/2021 balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Current assets Cash Accounts receivable Inventory Equipment Total current assets BOWLER CORPORATION Balance Sheet At December 31, 2021 Assets Liabilities and Shareholders' Equity $ $ 9,500 14,500 25,000 190,000 239,000 239,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following account balances were taken from the 2021 post-closing trial balance of the Bowler Corporation: cash, $9,500; accounts
receivable, $14,500; inventory, $25,000; equipment, $190,000; accumulated depreciation, $58,000; accounts payable, $83,000;
salaries payable, $21,000; retained earnings, $18,000; and common stock, $59,000.
Prepare a 12/31/2021 balance sheet. (Amounts to be deducted should be indicated by a minus sign.)
Current assets
Cash
Accounts receivable
Inventory
Equipment
Total current assets
BOWLER CORPORATION
Balance Sheet
At December 31, 2021
Assets
Liabilities and Shareholders' Equity
$
$
9,500
14,500
25,000
190,000
239,000
239,000
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