Accounting question?
Question:
Using the following data, prepare a classifiied balance sheet as of December 31, 20x7, for the Lee Company. There are 2,000 shares of common stock issued and outstanding.
Accts Payable-$1600
Building not currently used-19,000
Accumulated Depreciation Equipment- 8,000
Common Stock-20,000
Retained Earnings-22,600
Copyright-5,000
Bonds Payable(due in 20years)-13,000
Accts Recievable-3,000
Cash-5,200
Unearned Revenue-800
Short-term Investments-2,000
Land-16,000
Equipment-15,000
Long-term Investments-800
Answer:
Assets:
Building not currently use, (-)accumulated deprectiation equipment, copyright, A/R, cash, land, equipment, short and long term investment.
Liability:
A/P, common stock, retained earnings, bonds payable, unearned revenue
don't you have an accounting textbook? they should have at least one example of a balance sheet. just divide the accounts into assets, liabilities, and stockholders' equity.
hint: accounts with receivable in them are assets and ones with payable are liabilities.
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