Use the fоllоwing аccоunt bаlаnces from the December 31, 20X1 ledger to prepare the Balance Sheet IN A CLASSIFIED FORMAT. Retained Earnings as listed is the January 1, 20X1 balance.You will need to solve for the amount of Retained Earnings to be reported on the Balance Sheet. The Note Payable includes a portion, 25%, that is due in one year. The order that you list the accounts is critical for your answer to be graded as correct. (Current assets in order of liquidity, Long-term assets as shown in text, Current liabilities with most common liability first) You can use "Copy and Paste" to enter the date and account titles. If you choose to type in the date and the name of the accounts, you must do so EXACTLY as shown in the list. Do not add any other words! When entering the amount, do NOT use dollar signs or commas. Do NOT use a minus sign or parenthesis. Account Titles Account Balances Account Titles Account Balances Cash 1,000 Insurance Expense 180 Fees earned 1,400 Depreciation Expense 150 Prepaid Rent 340 Accounts Receivable 80 Accounts Payable 570 Dividends Declared 180 Common Stock 2030 Wages Expense 620 Notes Payable 800 Retained Earnings 1425 Accumulated Depreciation-Auto 325 Auto 4000 PBJ Restaurant Balance Sheet [Date] Current Assets: [Asset1] [AssetA1] [Asset2] [AssetA2] [Asset3] [AssetA3] Total Current Assets [TotalCA] Long-term Assets: [Asset4] [AssetA4] [ContraAsset] [ContraA] Total Long-term Assets [TotalLTA] Total Assets [TotalAssets] Current Liabilities: [Liability1] [LiabA1] [Liability2] [LiabA2] Total Current Liabilities [TotalCL] Long-term Liabilities: [Liability4] [LiabA4] Total Long-term Liabilities [TotalLTL] Total Liabilities [TotalL] Stockholders’ Equity: [Equityacct] [EquityA1] Retained Earnings [REA] Total Stockholders’ Equity [TotalEquityA] Total Liabilities and Stockholders’ Equity [TotalLandSEA]
Use the fоllоwing аccоunt bаlаnces from the December 31, 20X1 ledger to prepare the Balance Sheet IN A CLASSIFIED FORMAT. Retained Earnings as listed is the January 1, 20X1 balance.You will need to solve for the amount of Retained Earnings to be reported on the Balance Sheet. The Note Payable includes a portion, 25%, that is due in one year. The order that you list the accounts is critical for your answer to be graded as correct. (Current assets in order of liquidity, Long-term assets as shown in text, Current liabilities with most common liability first) You can use "Copy and Paste" to enter the date and account titles. If you choose to type in the date and the name of the accounts, you must do so EXACTLY as shown in the list. Do not add any other words! When entering the amount, do NOT use dollar signs or commas. Do NOT use a minus sign or parenthesis. Account Titles Account Balances Account Titles Account Balances Cash 1,000 Insurance Expense 180 Fees earned 1,400 Depreciation Expense 150 Prepaid Rent 340 Accounts Receivable 80 Accounts Payable 570 Dividends Declared 180 Common Stock 2030 Wages Expense 620 Notes Payable 800 Retained Earnings 1425 Accumulated Depreciation-Auto 325 Auto 4000 PBJ Restaurant Balance Sheet [Date] Current Assets: [Asset1] [AssetA1] [Asset2] [AssetA2] [Asset3] [AssetA3] Total Current Assets [TotalCA] Long-term Assets: [Asset4] [AssetA4] [ContraAsset] [ContraA] Total Long-term Assets [TotalLTA] Total Assets [TotalAssets] Current Liabilities: [Liability1] [LiabA1] [Liability2] [LiabA2] Total Current Liabilities [TotalCL] Long-term Liabilities: [Liability4] [LiabA4] Total Long-term Liabilities [TotalLTL] Total Liabilities [TotalL] Stockholders’ Equity: [Equityacct] [EquityA1] Retained Earnings [REA] Total Stockholders’ Equity [TotalEquityA] Total Liabilities and Stockholders’ Equity [TotalLandSEA]
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