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Temp23
Oct 14, 2007, 09:05 PM
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
manik chand dey
Dec 15, 2007, 01:50 AM
Cash $ 20,780
pready
Dec 16, 2007, 01:55 PM
Assets = Liabilities + Owners' Equity
so first get the total for your liabilities + Owner's Asstes, then subtract all the assets and whats left = Cash