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The following information is available for Pharoah Company Accounts receivable   $2,200   Cash   $6,300 Accounts payable   4,500   Supplies   3,820 Interest payable   540   Unearned service revenue   920 Salaries and wages expense   5,000   Salaries and wages payable   760 Notes payable   32,500   Depreciation expense   670 Common stock   50,500   Equipment (net)   109,800 Inventory   2,910         Using the information above, prepare a balance sheet as of December 31, 2022. (Hint: Solve for the missing retained earnings amount after first determining total assets and total liabilities.) (List assets in order of liquidity.)

The following information is available for Pharoah Company Accounts receivable   $2,200   Cash   $6,300 Accounts payable   4,500   Supplies   3,820 Interest payable   540   Unearned service revenue   920 Salaries and wages expense   5,000   Salaries and wages payable   760 Notes payable   32,500   Depreciation expense   670 Common stock   50,500   Equipment (net)   109,800 Inventory   2,910         Using the information above, prepare a balance sheet as of December 31, 2022. (Hint: Solve for the missing retained earnings amount after first determining total assets and total liabilities.) (List assets in order of liquidity.)

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 18EB: Krespy Corp. has a cash balance of $7,500 before the following transactions occur: A. received...
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The following information is available for Pharoah Company

Accounts receivable   $2,200   Cash   $6,300
Accounts payable   4,500   Supplies   3,820
Interest payable   540   Unearned service revenue   920
Salaries and wages expense   5,000   Salaries and wages payable   760
Notes payable   32,500   Depreciation expense   670
Common stock   50,500   Equipment (net)   109,800
Inventory   2,910        


Using the information above, prepare a balance sheet as of December 31, 2022. (Hint: Solve for the missing retained earnings amount after first determining total assets and total liabilities.) (List assets in order of liquidity.)

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