Make a balance sheet forthe following:Accounts receivable- 47,000Accounts Payable- 50,000Prepaid expenses- 1,000Accrued Liabilities- 12,000Net Sales- 698,000Cost of Goods Sold- 520,000Cash- 46,000Fixed assets-715,000Income taxes payable- 3,000Accumulated depreciation- 103,000Investment in stocks- 115,000Gain on sales of investments- 12,000Bobds payable-non current- 295,000Operating expenses- 150,000Common stock, P5 par- 276,00Additional paid-in capital- 189,000Retained Earnings- 140,000Net income before tax- 23,000Inventory- 144,000

Answered: Image /qna-images/answer/0e033118-6ac1-47e5-b099-c41422e7c5b3.jpg

Answered: counts receivable- 47,000 counts…

counts receivable- 47,000 counts Payable- 50,000 paid expenses- 1,000 crued Liabilities- 12,000 t Sales- 698,000 st of Goods Sold- 520,000 sh- 46,000 ed assets-715,000 ome taxes pavable- 3.000

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 21E

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Question

Make a balance sheet for
the following:
Accounts receivable- 47,000
Accounts Payable- 50,000
Prepaid expenses- 1,000
Accrued Liabilities- 12,000
Net Sales- 698,000
Cost of Goods Sold- 520,000
Cash- 46,000
Fixed assets-715,000
Income taxes payable- 3,000
Accumulated depreciation- 103,000
Investment in stocks- 115,000
Gain on sales of investments- 12,000
Bobds payable-non current- 295,000
Operating expenses- 150,000
Common stock, P5 par- 276,00
Additional paid-in capital- 189,000
Retained Earnings- 140,000
Net income before tax- 23,000
Inventory- 144,000

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