Prepare a balance sheet for Jake's Janitorial Service for ...

[JGIBBSON]

Question 1

Prepare a balance sheet for Mullen's Hardware for December 31 of last year. The company assets are cash and merchandise inventory $80,000. The liabilities are and wages payable $9000. The owner's capital is $101,000.
◦ Mullen's Hardware Balance Sheet
Total assets: $128,000
Total liabilities: $9000
Total liabilities and owner's equity: $9000

◦ Mullen's Hardware Balance Sheet
Total assets: $128,000
Total liabilities: $27,000
Total liabilities and owner's equity: $128,000

◦ Mullen's Hardware Balance Sheet
Total assets: $128,000
Total liabilities: $18,000
Total liabilities and owner's equity: $128,000

◦ Mullen's Hardware Balance Sheet
Total assets: $80,000
Total liabilities: $18,000
Total liabilities and owner's equity: $101,000

Question 2

Prepare a balance sheet for Jake's Janitorial Service for December 31 of last year. The company assets are cash accounts receivable merchandise inventory and equipment The liabilities are accounts payable wages payable and mortgage note payable The owner's capital is $123,000.
◦ Jake's Janitorial Service Balance Sheet
Total assets: $235,000
Total liabilities: $99,000
Total liabilities and owner's equity: $123,000

◦ Jake's Janitorial Service Balance Sheet
Total assets: $235,000
Total liabilities: $112,000
Total liabilities and owner's equity: $123,000

◦ Jake's Janitorial Service Balance Sheet
Total assets: $235,000
Total liabilities: $112,000
Total liabilities and owner's equity: $235,000

◦ Jake's Janitorial Service Balance Sheet
Total assets: $172,000
Total liabilities: $112,000
Total liabilities and owner's equity: $123,000

[joneynes]

A FREE account is required to view all solutions! Click to Register

Login with Facebook Login with Google Login with Email

Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.

Answer Preview

Only 58% of students answer this correctly

[JGIBBSON]

Thanks for the timely response, appreciate it

[EAN94]

Excellent