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Set up balance sheet on December

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Reference no: EM132472148

Problem - On December 31, Morgan Company had the following list of account balances.

Accounts Payable $48300

Drawing $19400

Accounts Receivable $39900

Equipment $36300

Accumulated Depreciation, Buildings $55400

Prepaid Rent $18500

Accumulated Depreciation, Equipment $19900

Rent Expense $7500

Beginning Capital $112000

Salaries Expense $4000

Buildings $108000

Salaries Payable $1900

Cash $59900

Service Revenue $92600

Depreciation Expense, Buildings $10300

Supplies $19900

Depreciation Expense, Equipment $3000

Supplies Expense $3400

Required - Set up balance sheet on December 31. Hint: You will need to determine the net book value for equipment and buildings. You will also need to determine ending capital.

Reference no: EM132472148

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