Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   Classified Balance sheet (https://www.askmehelpdesk.com/showthread.php?t=140744)

  • Oct 14, 2007, 09:05 PM
    Temp23
    Classified Balance sheet
    How do I prepare a classified balance sheet that includes the correct balance for cash using the following accounts:

    Accounts payable $17,250
    Accounts receivable $41,560
    Accumulated Depreciation - Equipment $51,950
    Cash ?
    Cindy Deloach, Capital $346,000
    Equipment $350,000
    Prepaid Insurance $9,600
    Prepaid rent $6,000
    Salaries payable $6,700
    Supplies $1,040
    Unearned fees $5,000
  • Dec 15, 2007, 02:50 AM
    manik chand dey
    Cash $ 20,780
  • Dec 16, 2007, 02:55 PM
    pready
    Assets = Liabilities + Owners' Equity
    so first get the total for your liabilities + Owner's Asstes, then subtract all the assets and what's left = Cash

  • All times are GMT -7. The time now is 02:10 AM.