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Author Question: Prepare a balance sheet for Jake's Janitorial Service for December 31 of last year. The company ... (Read 190 times)

JGIBBSON

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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


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Marked as best answer by JGIBBSON on Feb 26, 2020

joneynes

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JGIBBSON

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Reply 2 on: Feb 26, 2020
:D TYSM


xthemafja

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Reply 3 on: Yesterday
Excellent

 

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