Woods Construction has the following account balances on December 31, 2024.Balances$ 22,0002,20029,00012,00014,000AccountsEquipmentAccounts payableSalaries expenseCommon stockLandNotes payableService revenueCashRetained earningsCashLandEquipmentRequired:Use only the appropriate accounts to prepare a balance sheet.Total assetsAssets16,00035,0005,200$WOODS CONSTRUCTIONBalance SheetDecember 315,200 Accounts payable14,000 Notes payable22,000$ 41,200Total liabilitiesCommon stockRetained earningsLiabilities.Stockholders' EquityTotal stockholders equityTotal liabilities and stockholders' equity$2,20016,00018,20012,00012,000$ 30,200

Name: Woods Construction has the following account balances on December 31,
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Description: Woods Construction has the following account balances on December 31, 2024.Balances$ 22,0002,20029,00012,00014,000AccountsEquipmentAccounts payableSalaries expenseCommon stockLandNotes payableService revenueCashRetained earningsCashLandEquipmentRequ

The financial statements of the business include the income statement and balance sheet. The balance…

Business

Accounting

Woods Construction has the following account balances on December 31, 2024. Balances $ 22,000 2,200 29,000 12,000 14,000 16,000 Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings 35,000 5,200 Required: Use only the appropriate accounts to prepare a balance sheet.

Woods Construction has the following account balances on December 31, 2024. Balances $ 22,000 2,200 29,000 12,000 14,000 16,000 Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings 35,000 5,200 Required: Use only the appropriate accounts to prepare a balance sheet.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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