The following information is available for Sunland Company Accounts receivable $3.400 Cash $6.200 Accounts payable 4,800 Supplies 3,740 Interest payable 520 Unearned service revenue 860 Salaries and wages expense 5,200 Salaries and wages payable 800 Notes payable 32,500 Depreciation expense 700 Common stock 50,600 Equipment (net) 110,500 Inventory 2,900 Using the information above, prepare a balance sheet as of December 31, 2022. (Hint: Solve for the missing retained earnings amount after first determining total assets and total liabilities.) (List assets in order of liquidity.)

The following information is available for Sunland Company Accounts receivable $3.400 Cash $6.200 Accounts payable 4,800 Supplies 3,740 Interest payable 520 Unearned service revenue 860 Salaries and wages expense 5,200 Salaries and wages payable 800 Notes payable 32,500 Depreciation expense 700 Common stock 50,600 Equipment (net) 110,500 Inventory 2,900 Using the information above, prepare a balance sheet as of December 31, 2022. (Hint: Solve for the missing retained earnings amount after first determining total assets and total liabilities.) (List assets in order of liquidity.)

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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