Homework Help is Here – Start Your Trial Now!
Business
Accounting
21-40. Using the following (scrambled) accounts, prepare a balance sheet for ABC, a retail company, for the year ending in December 31, 2014. Assume that these are the only Balance Sheet Accounts. In Peso Sign. Accounts Payable 39,000 Accrued Expenses 8,000 Accumulated Depreciation 51,000 Additional Paid-in Capital 86,000 Allowance for Doubtful Accounts 2,000 Cash 23,000 Common Stock (PHPO.20 par) 45,000 Current Portion ofLT. Debt 6,000 Gross Accounts Receivable 40,000 Gross Fixed Assets 486,000 Inventonies 54,000 Long-Term Debt 210,000 Net Accounts Receivable 38,000 Net Fixed Assets 435,000 Retained Eamings 138,000 Short-Term Bank Loan (Notes 18,000 Payable)

21-40. Using the following (scrambled) accounts, prepare a balance sheet for ABC, a retail company, for the year ending in December 31, 2014. Assume that these are the only Balance Sheet Accounts. In Peso Sign. Accounts Payable 39,000 Accrued Expenses 8,000 Accumulated Depreciation 51,000 Additional Paid-in Capital 86,000 Allowance for Doubtful Accounts 2,000 Cash 23,000 Common Stock (PHPO.20 par) 45,000 Current Portion ofLT. Debt 6,000 Gross Accounts Receivable 40,000 Gross Fixed Assets 486,000 Inventonies 54,000 Long-Term Debt 210,000 Net Accounts Receivable 38,000 Net Fixed Assets 435,000 Retained Eamings 138,000 Short-Term Bank Loan (Notes 18,000 Payable)

Corporate Financial Accounting
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter14: Financial Statement Analysis
Section: Chapter Questions
Problem 14.3BE: Current position analysis The following items are reported on a company's balance sheet: Cash...
See similar textbooks
icon
Related questions
Question

Make a balance sheet

1:57 A 30 75%i ll TM LTE 7:25 AM O 83% ONLINE: Business Finance... cdn.fbsbx.com Done 21-40. Using the following (scrambled) accounts, prepare a balance sheet for ABC, a retail company, for the year ending in December 31, 2014. Assume that these are the only Balance Sheet Accounts. In Peso Sign. Accounts Payable 39,000 Accrued Expenses 8,000 Accumulated Depreciation 51,000 Additional Paid-In Capital 86,000 Allowance for Doubtful Accounts 2,000 Cash 23,000 Common Stock (PHPO.20 par) 45,000 Current Portion of L.T. Debt 6,000 Gross Accounts Receivable 40,000 Gross Fixed Assets 486.000 Inventories 54,000 Long-Term Debt 210,000 Net Accounts Receivable 38,000 Net Fixed Assets 435.000 Retained Earnings 138,000 Short-Term Bank Loan (Notes 18,000 Payable)
Transcribed Image Text:1:57 A 30 75%i ll TM LTE 7:25 AM O 83% ONLINE: Business Finance... cdn.fbsbx.com Done 21-40. Using the following (scrambled) accounts, prepare a balance sheet for ABC, a retail company, for the year ending in December 31, 2014. Assume that these are the only Balance Sheet Accounts. In Peso Sign. Accounts Payable 39,000 Accrued Expenses 8,000 Accumulated Depreciation 51,000 Additional Paid-In Capital 86,000 Allowance for Doubtful Accounts 2,000 Cash 23,000 Common Stock (PHPO.20 par) 45,000 Current Portion of L.T. Debt 6,000 Gross Accounts Receivable 40,000 Gross Fixed Assets 486.000 Inventories 54,000 Long-Term Debt 210,000 Net Accounts Receivable 38,000 Net Fixed Assets 435.000 Retained Earnings 138,000 Short-Term Bank Loan (Notes 18,000 Payable)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Corporate Financial Accounting
Corporate Financial Accounting
Accounting
ISBN:
9781305653535
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Financial & Managerial Accounting
Financial & Managerial Accounting
Accounting
ISBN:
9781285866307
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS