Using the following information, prepare a year-end balance sheet for Lake Mills Vet Clinic as of December 31.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Using the following information, prepare a year-end balance sheet for Lake Mills Vet Clinic as of December 31.
 
   
Accounts Payable $ 2,575
Accumulated Depreciation, Building 90,400
Accumulated Depreciation, Equipment 56,200
Building 375,000
Cash 27,232
Equipment 102,200
Land 37,000
Supplies 250
L. Mills, Capital 392,507
Lake Mills Vet Clinic
Balance Sheet
December 31, 20--
Assets    
    $fill in the blank b7deb00eb07cfa4_2
    fill in the blank b7deb00eb07cfa4_4
    fill in the blank b7deb00eb07cfa4_6
  fill in the blank b7deb00eb07cfa4_8  
  fill in the blank b7deb00eb07cfa4_10 fill in the blank b7deb00eb07cfa4_11
  fill in the blank b7deb00eb07cfa4_13  
  fill in the blank b7deb00eb07cfa4_15 fill in the blank b7deb00eb07cfa4_16
Total Assets   $fill in the blank b7deb00eb07cfa4_17
Liabilities    
    $fill in the blank b7deb00eb07cfa4_19
Owner's Equity    
    fill in the blank b7deb00eb07cfa4_21
Total Liabilities and Owner's Equity   $fill in the blank b7deb00eb07cfa4_22
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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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