Use the following data to create a complete balance sheet. All accounts must be correctly labeled and arranged in the proper order.

College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter12: Financial Statements, Closing Entries, And Reversing Entries
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Use the following data to create a complete balance sheet. All accounts must be correctly labeled and arranged in the proper order.
Cash
Accounts receivable
Accounts payable
Short-term notes payable
Inventories
Gross fixed assets
Long-term debt
Common stock
Accumulated depreciation
$150,000
54,000
72,000
20,000
80,000
2,400,000
650,000
1,200,000
500,000
Transcribed Image Text:Use the following data to create a complete balance sheet. All accounts must be correctly labeled and arranged in the proper order. Cash Accounts receivable Accounts payable Short-term notes payable Inventories Gross fixed assets Long-term debt Common stock Accumulated depreciation $150,000 54,000 72,000 20,000 80,000 2,400,000 650,000 1,200,000 500,000
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