Question

With the following information prepare the Balance Sheet for
the Balanced Company -- time period is Dec 21, 2017
Salary Payable		$          7,600
Equipment		$        62,400
Truck		$        44,500
Notes Payable		$        34,500
Accounts Receivable		$        46,500
Land		$        37,000
Capital		$     160,000
Inventory		$        14,700
Supplies		$          3,800
Accounts Payable		$        31,400
Cash		$        24,600

Answer 1

Balance sheet
Assets	Amount	Amount	Equity and liabilities	Amount	Amount
Current assets:			Current liabilities:
Cash	24,600		Accounts payable	31,400
Supplies	3,800		Salaries and wages payable	7600
Inventory	14,700
Accounts receivable	46,500		Total current liabilities		39,000
Total current assets		89,600
Long-term assets
Land	37,000		Long-term liabilities
Truck	44,500		Notes payable		34500
Equipment, net	62,400
Total long-term assets		1,43,900	Total liabilities		73,500
			Equity:
			Common stock	1,60,000
			Retained earnings
			Total equity		1,60,000
Total assets		2,33,500	Total equity and liabilities		2,33,500