emw0315
Sep 27, 2010, 10:38 AM
Hello, I'm doing a classified balance sheet and my total assets and total liabilties equal, can someone help me and show me what I'm doing wrong?
Assets
Current assets
Cash 15,200
Supplies 1900
Prepaid rent 1,400
Total current assets $18,500
Plant assets
Equipment 53,000
Less accum. Dep.-equipment (6,900) $46,100
Total plant assets $64,600
Liabilities
Current liabilities
acct. payable 4,300
Salary pay. 100
Unearn. Ser. rev. 4,900
Total current liabilities $9,300
Long-term liabilities
Notes pay (long-term) $6,000
Total liabilities $15,300
Stockholder equity
Common stock 15,100
Ret. Earn. 22,800
Total st. equity $37,900
Total liabilities & st. equity $53,200
I am short $11,400 and can't figure out where it is coming from.
Assets
Current assets
Cash 15,200
Supplies 1900
Prepaid rent 1,400
Total current assets $18,500
Plant assets
Equipment 53,000
Less accum. Dep.-equipment (6,900) $46,100
Total plant assets $64,600
Liabilities
Current liabilities
acct. payable 4,300
Salary pay. 100
Unearn. Ser. rev. 4,900
Total current liabilities $9,300
Long-term liabilities
Notes pay (long-term) $6,000
Total liabilities $15,300
Stockholder equity
Common stock 15,100
Ret. Earn. 22,800
Total st. equity $37,900
Total liabilities & st. equity $53,200
I am short $11,400 and can't figure out where it is coming from.