pare the general format of the balance sheet (without nu under each category. Please make sure you list out the major categories and the common
pare the general format of the balance sheet (without nu under each category. Please make sure you list out the major categories and the common
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter8: Receivables
Section: Chapter Questions
Problem 25E
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Step 1
ANSWER:-
BALANCE SHEET
LIABILITIES | AMOUNT | ASSETS | AMOUNT |
Capital: | Fixed Assets: | ||
Opening balance | Good will | ||
Add:- net profit | Land | ||
Less:- net loss | Building | ||
Less:- drawings | Plant and machinery | ||
Furniture and fixtures | |||
Long Term Liabilities: | Machinery | ||
Bonds payable | |||
Loan | Investments: | ||
Deferred tax liabilities | Bonds | ||
Lease payment | Debentures | ||
Shares | |||
Current Liabilities: | Immovable properties | ||
Income received in advance | |||
Sundry Creditors | Current Assets: | ||
Outstanding expenses | Closing stock | ||
Bills payable | Cash in hand | ||
Bank overdraft | Cash at bank | ||
Bills receivable | |||
Accrued income | |||
Prepaid expenses | |||
Sundry debtors | |||
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