Ch 4-3 Exercises & Problems eBook Print Item Cash Accounts payable Supplies Prepaid insurance Land Total current assets Property, plant, and equipment Building Equipment Total property, plant, and equipment Total assets $16,000 25,200 7,300 13,100 190,400 $252,000 $398,100 90,000 654,900 $906,900 Liabilities Current liabilities: Accounts receivable Accumulated depreciation-building Accumulated depreciation--equipment Net income Total liabilities $36,500 163,900 26,600 144,200 $371,200 Owner's Equity Wages payable Ruben Daniel, Capital Total owner's equity Total liabilities and owner's equity $2,800 532,900 535,700 $906,900 Check My Work 1 more Check My Work uses remaining Previous Next Assignment Score: 48.39% Email InstructorSave and Exit Submit Assignment for Grading

Accounting (Text Only)
26th Edition
ISBN:9781285743615
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter10: Fixed Assets And Intangible Assets
Section: Chapter Questions
Problem 10.1APR: Allocating payments and receipts to fixed asset accounts The following payments and receipts are...
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Hi, I attempted this homework problem but cant seem to get the values correct for total property, land, and equipment as well as the value for total assets. All my numbers are correct but I'm not sure where I went wrong or how to calculate for those values correctly. Thank you! This is the 4th time I've submitted this question and keep having it sent back to me. The picture I'm attaching is of the balance sheet which was given in the question. I am going to copy and paste the text which is written before the balance sheet since it does not fit in the one picture due to the problem being so long.

Balance Sheet

Below is the balance sheet for Labyrinth Services Co., which contains errors.

Labyrinth Services Co.
Balance Sheet
For the Year Ended August 31, 2019
Assets

This problem is asking to make a corrected balance sheet. I hope this is enough information now.

Ch 4-3 Exercises & Problems
eBook
Print Item
Cash
Accounts payable
Supplies
Prepaid insurance
Land
Total current assets
Property, plant, and equipment
Building
Equipment
Total property, plant, and equipment
Total assets
$16,000
25,200
7,300
13,100
190,400
$252,000
$398,100
90,000
654,900
$906,900
Liabilities
Current liabilities:
Accounts receivable
Accumulated depreciation-building
Accumulated depreciation--equipment
Net income
Total liabilities
$36,500
163,900
26,600
144,200
$371,200
Owner's Equity
Wages payable
Ruben Daniel, Capital
Total owner's equity
Total liabilities and owner's equity
$2,800
532,900
535,700
$906,900
Check My Work
1 more Check My Work uses remaining
Previous
Next
Assignment Score: 48.39%
Email InstructorSave and Exit Submit Assignment for Grading
Transcribed Image Text:Ch 4-3 Exercises & Problems eBook Print Item Cash Accounts payable Supplies Prepaid insurance Land Total current assets Property, plant, and equipment Building Equipment Total property, plant, and equipment Total assets $16,000 25,200 7,300 13,100 190,400 $252,000 $398,100 90,000 654,900 $906,900 Liabilities Current liabilities: Accounts receivable Accumulated depreciation-building Accumulated depreciation--equipment Net income Total liabilities $36,500 163,900 26,600 144,200 $371,200 Owner's Equity Wages payable Ruben Daniel, Capital Total owner's equity Total liabilities and owner's equity $2,800 532,900 535,700 $906,900 Check My Work 1 more Check My Work uses remaining Previous Next Assignment Score: 48.39% Email InstructorSave and Exit Submit Assignment for Grading
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