Prepare a balance sheet, Accounting Basics

The balance sheet account as of July 31, 1995 for XYZ company are :

Capital: (fix lib)                            35,630
Office Equipment (ass)                  16730
Delivery Truck                             15900
Accounts Receivables(ass)            14180
Notes payable(lib                         1200
Cash(ass                                     7820
Accounts Payable                        5750
Salaries Payable                          2170
Delivery Supplies on hand            1050
Office Supplies on hand                870

Required:

Prepare a balance sheet as of july 31,1995 (Total Assets = 56,550)

Posted Date: 2/26/2013 12:53:19 AM | Location : United States







Related Discussions:- Prepare a balance sheet, Assignment Help, Ask Question on Prepare a balance sheet, Get Answer, Expert's Help, Prepare a balance sheet Discussions

Write discussion on Prepare a balance sheet
Your posts are moderated
Related Questions
Q. Financial statements in European countries? In a few European countries the financial statements contain secret reserves. These secret reserves occur from a company not repo

Explain the term- Reversing entries and Interim statements Reversing entries - Made the first day of new accounting period. They are exact opposite of the adjusting entries

What is procedure for testing after implementation as functional consultant? Ans) Testing involves a step by step check of several transactions configured in the SAP system.

User accounts are the primary means of access for actual people to the system (computer), and these accounts insulate the user and the environment, preventing the users from damagi

When we say an asset is at its Net Book Value, Does that mean Cost of asset + Revaluation added - Accumulated Depreciation or Revaluation is not relevant for calculating the NBV?

Q. Explain about Prepaid insurance? The two accounts recitations to insurance are Prepaid Insurance (an asset) and Insurance Expense (an expense). Subsequent to posting this en

In recent years, there has been a lot of media coverage about the funding status of pension plans for state employees. In many states, the amount of money invested in employee pens

Q. Explain about full disclosure principle? The full disclosure principle states that information significant enough to influence the decisions of an informed user of the finan

Q. Describe about Cash role in balance sheet? Cash includes deposits in banks obtainable for current operations at the balance sheet date plus cash on hand consisting of un-dep

Q. What is Depreciation? Depreciation -- an expense which is supposed to reflect the loss in value of a fixed asset. Forinstance if a machine will entirely wear out after ten y