FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Shown below in random order is a list of balance sheet items for Red
River Farms at September 30,2001.
Land
$550,000
Fences and Gates (Assets)
$33,570
Irrigation System (Assets)
Building
$20,125
$78,300
Notes payable
$16,710
$530,000
Cash
Accounts Receivable 22,365
Livestock (Asset)
$120,780
Tractor (Asset)
76,650
Farm Machinery
$42,970
Accounts Payable $77,095
Hollis Roberts Capital
Property Taxes Payable $9,135
$1,820
Wages Payable
Instructions: Prepare a balance sheet by using these items
and computing the amount for Hollis Roberts Capital.
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Transcribed Image Text:Shown below in random order is a list of balance sheet items for Red River Farms at September 30,2001. Land $550,000 Fences and Gates (Assets) $33,570 Irrigation System (Assets) Building $20,125 $78,300 Notes payable $16,710 $530,000 Cash Accounts Receivable 22,365 Livestock (Asset) $120,780 Tractor (Asset) 76,650 Farm Machinery $42,970 Accounts Payable $77,095 Hollis Roberts Capital Property Taxes Payable $9,135 $1,820 Wages Payable Instructions: Prepare a balance sheet by using these items and computing the amount for Hollis Roberts Capital.
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