FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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1. Using the accounts below, prepare a basic Balance Sheet.
All accounts will be used once; refer to the 2-Yr Example F/S in Canvas for examples.
4
Accounts Payable
Accounts Receivable
Automobiles
Buildings
Cash
5
Common Stock
Equipment
Inventory
Land
Long-Term Bonds Payable
Long-Term Note Payable
Retained Earnings
Short-term Note Payable
Wages Payable
Assets
Liabilities
Stockholders' Equity
Assets
Liabilities
Stockholders' Equity
$
$
$
$
$
Assets
Liabilities
Stockholders' Equity
$
$
$
$
$
$
Fill in the missing blanks to make each Balance Sheet balance.
3
$ 10,000,000
??
$ 8,000,000
$
$
$
1,200
8,500
9,000
85,000
2,500
90,000
20,000
30,000
45,000
16,000
14,000
60,000
12,000
6,800
$ 5,000,000
$ 2,000,000
??
??
$ 4,000,000
$ 6,000,000
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Transcribed Image Text:1. Using the accounts below, prepare a basic Balance Sheet. All accounts will be used once; refer to the 2-Yr Example F/S in Canvas for examples. 4 Accounts Payable Accounts Receivable Automobiles Buildings Cash 5 Common Stock Equipment Inventory Land Long-Term Bonds Payable Long-Term Note Payable Retained Earnings Short-term Note Payable Wages Payable Assets Liabilities Stockholders' Equity Assets Liabilities Stockholders' Equity $ $ $ $ $ Assets Liabilities Stockholders' Equity $ $ $ $ $ $ Fill in the missing blanks to make each Balance Sheet balance. 3 $ 10,000,000 ?? $ 8,000,000 $ $ $ 1,200 8,500 9,000 85,000 2,500 90,000 20,000 30,000 45,000 16,000 14,000 60,000 12,000 6,800 $ 5,000,000 $ 2,000,000 ?? ?? $ 4,000,000 $ 6,000,000
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