The following account balances were taken from the 2021 post-closing trial balance of the Bowler Corporation: cash, $8,000; accounts receivable, $18,000; inventory, $32,000; equipment, $180,000; accumulated depreciation. $72,000; accounts payable, $54,000; salaries payable, $28,000; retained earnings, $18,000, and common stock, $66,000. Prepare a 12/31/2021 balance sheet. (Amounts to be deducted should be indicated by a minus sign.)

The following account balances were taken from the 2021 post-closing trial balance of the Bowler Corporation: cash, $8,000; accounts receivable, $18,000; inventory, $32,000; equipment, $180,000; accumulated depreciation. $72,000; accounts payable, $54,000; salaries payable, $28,000; retained earnings, $18,000, and common stock, $66,000. Prepare a 12/31/2021 balance sheet. (Amounts to be deducted should be indicated by a minus sign.)

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter16: Accounting Periods And Methods

Section: Chapter Questions

Problem 7DQ

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