-Building $100,000 -Account Receivable $10,000 -Equipment $100,000 -Cash in bank $20,000 -Notes payable $20,000 -Retained earnings $100,000 -Long term loan $100,000 -Owners equity $10,000 1. Prepare a balance sheet for Company X for 31 December 2021. 2. Based on the balance sheet calculate and explain the : a. Liability ratio b. Asset ratio c. Owners Equity ratio
-Building $100,000 -Account Receivable $10,000 -Equipment $100,000 -Cash in bank $20,000 -Notes payable $20,000 -Retained earnings $100,000 -Long term loan $100,000 -Owners equity $10,000 1. Prepare a balance sheet for Company X for 31 December 2021. 2. Based on the balance sheet calculate and explain the : a. Liability ratio b. Asset ratio c. Owners Equity ratio
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 16EA: Discuss how each of the following transactions for Watson, International, will affect assets,...
Related questions
Question
-Building $100,000
-
-Equipment $100,000
-Cash in bank $20,000
-Notes payable $20,000
-
-Long term loan $100,000
-Owners equity $10,000
1. Prepare a
2. Based on the balance sheet calculate and explain the :
a. Liability ratio
b. Asset ratio
c. Owners Equity ratio
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