Wildbird Construction has the following account balances at the end of the year. Accounts Balances Equipment $22,500 Accounts payable 2,300 Salaries expense 29,500 Common stock 10,000 Land 14,500 Notes payable 16,500 Service revenue 35,500 Cash 5,300 Retained earnings ? Required: Use only the appropriate accounts to prepare a balance sheet.
Wildbird Construction has the following account balances at the end of the year. Accounts Balances Equipment $22,500 Accounts payable 2,300 Salaries expense 29,500 Common stock 10,000 Land 14,500 Notes payable 16,500 Service revenue 35,500 Cash 5,300 Retained earnings ? Required: Use only the appropriate accounts to prepare a balance sheet.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Wildbird Construction has the following account balances at the end of the year.
| Accounts | Balances |
|---|---|
| Equipment | $22,500 |
| Accounts payable | 2,300 |
| Salaries expense | 29,500 |
| Common stock | 10,000 |
| Land | 14,500 |
| Notes payable | 16,500 |
| Service revenue | 35,500 |
| Cash | 5,300 |
| ? |
Required:
Use only the appropriate accounts to prepare a balance sheet.
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