Prepare a balance sheet, Accounting Basics

Assignment Help:

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)


Related Discussions:- Prepare a balance sheet

Income statements and balance sheets, Income Statements and Balance Sheets ...

Income Statements and Balance Sheets Case study A brief outline of the firm and its industry is given, as well as a few tips for your attention. You are given three years

Process for calculating gross earnings, Process for Calculating gross earni...

Process for Calculating gross earnings These are employee's earnings before any amount is deducted by the employer. Earnings are calculated either by a standard monthly r

Journal, Ledger is said to be the principal book entry and the transactions...

Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.

Explain about long-term assets, Q. Explain about Long-term assets? Long...

Q. Explain about Long-term assets? Long-term assets are assets that a business has on hand or else uses for a relatively long time. Examples include plant, property and equipme

Cost concept, The resources as machinery, property, buildings and land righ...

The resources as machinery, property, buildings and land rights etc. such a business owns are termed as assets. The money values allocated to assets are derived from the cost conce

Prepare a multiple-step income statement, Prepare a Multiple-Step Income St...

Prepare a Multiple-Step Income Statement based on the information presented in problem 4 above.                    Answer :

Explain about realization principle, Q. Explain about realization principle...

Q. Explain about realization principle? Realization of revenue Under the realization principle the accountant doesn't recognize (record) revenue until the seller obtains the ri

Explain interest revenue, Q. Explain Interest revenue? Interest revenue...

Q. Explain Interest revenue? Interest revenue Savings accounts exactly earn interest moment by moment. Hardly ever is payment of the interest made on the last day of the accoun

On january 1, On January 1, 2012, Bartell Company sold its idle plant facil...

On January 1, 2012, Bartell Company sold its idle plant facility to Cooper Inc. for $1,050000. On this date, the plant had a depreciated cost of $735,000. Cooper paid $150,000 ca

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd