At September 1, 2022 the balance sheet accounts for Pharoah's Restaurant were as follows: Accounts Payable $4,500 Accounts Receivable $1,600 Buildings $74,000 Cash $5,000 Equipment $17,700 Land $34,600 Common Stock ? Notes Payable $47,000 Supplies $3,300 Retained Earnings $44,700 The following transactions occurred during the next two days: On September 2, stockholders invested an additional $23,500 cash in the business. The accounts payable were paid in full. Assuming these were the only two transactions during the first three days of September, prepare a balance sheet at September 3, 2022. List assets in order of liquidity.

At September 1, 2022 the balance sheet accounts for Pharoah's Restaurant were as follows: Accounts Payable $4,500 Accounts Receivable $1,600 Buildings $74,000 Cash $5,000 Equipment $17,700 Land $34,600 Common Stock ? Notes Payable $47,000 Supplies $3,300 Retained Earnings $44,700 The following transactions occurred during the next two days: On September 2, stockholders invested an additional $23,500 cash in the business. The accounts payable were paid in full. Assuming these were the only two transactions during the first three days of September, prepare a balance sheet at September 3, 2022. List assets in order of liquidity.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 15MC: Calculate the ROI for Gardner Chemical given the following information: A. 25% B. 24% C. 60% D. 40%

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