Listed below in random order are the items to be included in the balance sheet of Smokey Moun- tain Lodge at December 31, 2009: Equipment .. $ 39,200 $450,000 Buildings.... Capital Stock .... Land.... 425,000 135,000 .... Accounts Payable... 54,800 Cash... 31,400 ... .. Accounts Receivable 10,600 Furnishings.. 58,700 ...... Salaries Payable.. Interest Payable ... 33,500 Snowmobles 15,400 .... Notes Payable.... Retained Earnings.. 12,000 620,000 Instructions Prepare a balance sheet at December 31, 2009. Include a proper heading and organize your balance sheet similar to Exhibit 2-9. (Afier "Buildings," you may list the remaining assCis in any order.) You will need to compute the anount to be shoWn for Retained Earnings.

Listed below in random order are the items to be included in the balance sheet of Smokey Moun- tain Lodge at December 31, 2009: Equipment .. $ 39,200 $450,000 Buildings.... Capital Stock .... Land.... 425,000 135,000 .... Accounts Payable... 54,800 Cash... 31,400 ... .. Accounts Receivable 10,600 Furnishings.. 58,700 ...... Salaries Payable.. Interest Payable ... 33,500 Snowmobles 15,400 .... Notes Payable.... Retained Earnings.. 12,000 620,000 Instructions Prepare a balance sheet at December 31, 2009. Include a proper heading and organize your balance sheet similar to Exhibit 2-9. (Afier "Buildings," you may list the remaining assCis in any order.) You will need to compute the anount to be shoWn for Retained Earnings.

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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