Scribd Logo
Upload

Welcome to Scribd!

  • 3 views

    Balancing

    Uploaded by

    Cassia ィ
    This balance sheet shows a company's assets, liabilities, and equity over 5 months. Assets included cash, accounts receivable, inventory, and fixed assets. Liabilities were accounts payable, operating expenses, accrued expenses, and long-term debt. Equity contained common stock and retained earnings. The company's total assets and liabilities/equity remained at $1,000 or $1,500 each month.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content

    You might also like

    Balancing

    Uploaded by

    Cassia ィ
    3 views1 page
    This balance sheet shows a company's assets, liabilities, and equity over 5 months. Assets included cash, accounts receivable, inventory, and fixed assets. Liabilities were accounts payable, operating expenses, accrued expenses, and long-term debt. Equity contained common stock and retained earnings. The company's total assets and liabilities/equity remained at $1,000 or $1,500 each month.

    Original Description:

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    This balance sheet shows a company's assets, liabilities, and equity over 5 months. Assets included cash, accounts receivable, inventory, and fixed assets. Liabilities were accounts payable, operating expenses, accrued expenses, and long-term debt. Equity contained common stock and retained earnings. The company's total assets and liabilities/equity remained at $1,000 or $1,500 each month.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    3 views1 page

    Balancing

    Uploaded by

    Cassia ィ
    This balance sheet shows a company's assets, liabilities, and equity over 5 months. Assets included cash, accounts receivable, inventory, and fixed assets. Liabilities were accounts payable, operating expenses, accrued expenses, and long-term debt. Equity contained common stock and retained earnings. The company's total assets and liabilities/equity remained at $1,000 or $1,500 each month.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    Balance Sheet

    July August September October November

    Assets

    Cash $400 $400 (-500) $(-100) $(-100) (-250)(+900) $550

    Accounts Receivable 0 0 0 900 (-900) 0

    Inventory 0 500 500 0 0

    Fixed Asset 600 600 600 600 600

    Less: Accumulated Depreciation 0 0 0 50 50

    Total Assets $1,000 $1,500 $1,000 $1,350 $1,100

    Liabilities and Owner’s Equity

    Accounts Payable $0 $500 (-500) $0 $0 $0

    Operating Expenses (Selling and Administrative 0 0 0 250 250


    expenses)

    Accrued Expenses 0 0 0 275 (-250) 25

    Long-term debt 300 300 300 300 300

    Common Stock 700 700 700 0 0

    Retained earnings 0 0 0 75 75

    Total Liabilities $1,000 $1,500 $1,000 $1,350 $1,100

    You might also like