Financial Accounting
4th Edition
ISBN: 9781259307959
Author: J. David Spiceland, Wayne M Thomas, Don Herrmann
Publisher: McGraw-Hill Education
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Chapter 1, Problem 1.8E
Wolfpack Construction has the following account balances at the end of the war.
Prepare a balance sheet (LO1–3)
| Accounts | Balances |
| Equipment | $26,000 |
| Accounts payable | 3,000 |
| Salaries expense | 33,000 |
| Common stock | 11,000 |
| Land | 18,000 |
| Notes payable | 20,000 |
| Service revenue | 39,000 |
| Cash | 6,000 |
| Retained earrings | ? |
Required:
Use only the appropriate accounts to prepare a balance sheet
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Chapter 1 Solutions
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