Chapter 1, Problem 1.33E

(1)

To determine

Balance sheet: This financial statement reports a company’s resources (assets) and claims of creditors (liabilities) and stockholders (stockholders’ equity) over those resources, on a specific date. The resources of the company are assets which include money contributed by stockholders and creditors. Hence, the main elements of the balance sheet are assets, liabilities, and stockholders’ equity.

To prepare: Balance sheet of WT Service as of June 30, 2018

(2)

To determine

To state: The information reported on the balance sheet.