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Intermediate Accounting: Reporting...
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Intermediate Accounting: Reporting...
Balance Sheet without Amounts The following is an alphabetical list of all of While Limnology Company’s adjusted trial balance accounts as of December 31, 2019:
Required:
Prepare White Limnology’s balance sheet (without amounts) in proper format.
Prepare WL Company’s balance sheet in proper format.
Balance sheet: This financial statement reports a company’s resources (assets) and claims of creditors (liabilities) and stockholders (stockholders’ equity) over those resources. The resources of the company are assets which include money contributed by stockholders and creditors. Hence, the main elements of the balance sheet are assets, liabilities, and stockholders’ equity.
Prepare WL Company’s balance sheet in proper format:
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