Prepare a balance sheet in proper format for the company as of December 31st
based on the following accounts. Answer questions 8 through 10 based on this
balance sheet.
Accounts Payable
Accounts Receivable
Cash
5,000
15,000
10,000
Retained Earnings
Prepaid Expenses
Supplies
9. What is the company's total equity?
$10,000
$8000
$2000
$25000
2,000
3,000
7,000
Long-term Notes Receivable
Accrued Expenses.
Short-term Notes Payable
Accumulated depreciation
Capital Stock
10,000
3,000
7,000
2,000
8,000
