Prepare a April 30 balance sheet in proper form for Two Rivers Vending Service from the following alphabetical list of the accounts at April 30: Accounts receivable……………………….$10,000Accounts payable…………………………..18,000Building……………………………………....28,000Cash………………………….……………....10,000Common Stock……………...……………..20,000Notes payable……………………………….47,000Office equipment……………...……………..12,000Retained earnings…………………………….?Trucks………………………………………..55,000
What will be an ideal response?
| TWO RIVERS VENDING SERVICE Balance Sheet April 30 | |||
| Assets | ? | Liabilities | ? |
| Cash…………………….. | $ 10,000 | Accounts payable……… | $ 18,000 |
| Accounts receivable…… | 10,000 | Notes payable………….. | 47,000 |
| Office equipment………. | 12,000 | Total liabilities………… | $ 63,000 |
| Building…………………. | 28,000 | ? | ? |
| Trucks………………….. | 55,000 | Equity | ? |
| ? | ? | Common Stock…….. | 20,000 |
| ? | ? | Retained Earnings…….. | 32,000 |
| Total assets……………. | $115,000 | Total liabilities and equity | $115,000 |
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