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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) Cash Accounts Receivable Inventory Supplies Equipment Total Assets Liabilities Notes Payable Accounts Payable Unearned Service Revenue Salaries and Wages Payable Interest Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Blossom Company Balance Sheet December 31, 2022 Assets Liabilities and Stockholders' Equity 31000 3700 800 4000 500 DO 50000 $ $ 6200 2000 2800 3700 108000 122700 40000

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) Cash Accounts Receivable Inventory Supplies Equipment Total Assets Liabilities Notes Payable Accounts Payable Unearned Service Revenue Salaries and Wages Payable Interest Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Blossom Company Balance Sheet December 31, 2022 Assets Liabilities and Stockholders' Equity 31000 3700 800 4000 500 DO 50000 $ $ 6200 2000 2800 3700 108000 122700 40000

FINANCIAL ACCOUNTING
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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Current Attempt in Progress The following information is available for Blossom Company Accounts receivable Accounts payable Interest payable Salaries and wages expense Notes payable Common stock Inventory $2,000 Cash 3,700 500 4,000 31,000 50,000 2,800 Supplies Unearned service revenue Salaries and wages payable Depreciation expense Equipment (net) $6,200 3,700 800 700 600 108,000
Transcribed Image Text:Current Attempt in Progress The following information is available for Blossom Company Accounts receivable Accounts payable Interest payable Salaries and wages expense Notes payable Common stock Inventory $2,000 Cash 3,700 500 4,000 31,000 50,000 2,800 Supplies Unearned service revenue Salaries and wages payable Depreciation expense Equipment (net) $6,200 3,700 800 700 600 108,000
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) Cash Accounts Receivable Inventory Supplies Equipment Total Assets Liabilities Notes Payable Accounts Payable Unearned Service Revenue Salaries and Wages Payable Interest Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Blossom Company Balance Sheet December 31, 2022 Assets Liabilities and Stockholders' Equity 31000 3700 800 4000 500 50000 6200 2000 2800 3700 108000 122700 40000
Transcribed Image Text: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) Cash Accounts Receivable Inventory Supplies Equipment Total Assets Liabilities Notes Payable Accounts Payable Unearned Service Revenue Salaries and Wages Payable Interest Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Blossom Company Balance Sheet December 31, 2022 Assets Liabilities and Stockholders' Equity 31000 3700 800 4000 500 50000 6200 2000 2800 3700 108000 122700 40000
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