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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

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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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