The table shows financial data for Purrfect Pets, Incorporated as of June 30, Year 3. Accounts Receivable. Retained Earnings Inventories Other Assets Accounts Payable Equipment Cash Common Stock Notes Payable Required: Prepare a balance sheet using these data. PURRFECT PETS, INCORPORATED Balance Sheet June 30, Year 3 Assets Accounts Receivable Inventories Other Assets Equipment Cash Total Assets Common Stock Retained Earnings Accounts Payable Notes Payable Total Liabilities Liabilities Stockholders' Equity $ 419,200 117,900 58,400 69,400 $ 349,200 118,500 732,600 662,100 268,900 419,200 58,400 69,400 118,500 732,600 $ 1,398,100 662,100 117,900 349,200 268,900 1,398,100 Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ 1,398,100 0

The table shows financial data for Purrfect Pets, Incorporated as of June 30, Year 3. Accounts Receivable. Retained Earnings Inventories Other Assets Accounts Payable Equipment Cash Common Stock Notes Payable Required: Prepare a balance sheet using these data. PURRFECT PETS, INCORPORATED Balance Sheet June 30, Year 3 Assets Accounts Receivable Inventories Other Assets Equipment Cash Total Assets Common Stock Retained Earnings Accounts Payable Notes Payable Total Liabilities Liabilities Stockholders' Equity $ 419,200 117,900 58,400 69,400 $ 349,200 118,500 732,600 662,100 268,900 419,200 58,400 69,400 118,500 732,600 $ 1,398,100 662,100 117,900 349,200 268,900 1,398,100 Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ 1,398,100 0

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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