KAT Productions reports the following amounts on December 31, 2024: retained earnings, $15,000; equipment, $38,000; accountspayable, $9,000; inventory, $15,000; notes payable, $20,000; common stock, $19,000; cash, $10,000. Prepare the balance sheet forKAT Productions.EquipmentIntangible assetsInventoryCashIntangible assetsTotal assetsAssets*****S$Answer is complete but not entirely correct.KAT ProductionsBalance SheetDecember 31, 202438,00038,00015,00010,000✔✔25,000126,000Accounts payableNotes payableTotal liabilitiesRetained earningsCommon stockLiabilitiesStockholders' EquityequityTotal stockholders' equityTotal liabilities and stockholders9$9,00020,00029,00015,00019,00034,00063,000

The balance sheet is one of the important financial statement of the business. It represents the…

KAT Productions reports the following amounts on December 31, 2024: retained earnings, $15,000; equipment, $38,000; accounts payable, $9,000; inventory, $15,000; notes payable, $20,000; common stock, $19.000; cash, $10,000. Prepare the balance sheet for KAT Productions. Equipment Intangible assets Inventory Cash Intangible assets Assets 00000 $ Answer is complete but not entirely correct. KAT Productions Balance Sheet December 31, 2024 38,000 38,000 15,000 10,000 25,000 *I*** Accounts payable Notes payable Total abilities Retained earnings Common stock Liabilities Stockholders' Equity $ 9,000 20,000 29,000 15,000 1900000

KAT Productions reports the following amounts on December 31, 2024: retained earnings, $15,000; equipment, $38,000; accounts payable, $9,000; inventory, $15,000; notes payable, $20,000; common stock, $19.000; cash, $10,000. Prepare the balance sheet for KAT Productions. Equipment Intangible assets Inventory Cash Intangible assets Assets 00000 $ Answer is complete but not entirely correct. KAT Productions Balance Sheet December 31, 2024 38,000 38,000 15,000 10,000 25,000 *I*** Accounts payable Notes payable Total abilities Retained earnings Common stock Liabilities Stockholders' Equity $ 9,000 20,000 29,000 15,000 1900000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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