Ask Experts Questions for FREE Help !
Ask
    Temp23's Avatar
    Temp23 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 14, 2007, 09:05 PM
    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
    manik chand dey's Avatar
    manik chand dey Posts: 63, Reputation: 2
    Junior Member
    		  
    #2

    Dec 15, 2007, 02:50 AM
    Cash $ 20,780
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #3

    Dec 16, 2007, 02:55 PM
    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
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Classified Balance Sheet [ 3 Answers ]

I have I question regarding classified balance sheets. If expenses and revenue are listed and I have to create a classified balance sheet with those items above, assets, liabilities, and stockholders equity, how would I incorporate the revenue and expenses??

Classified balance sheet [ 3 Answers ]

Does unearned revenue go on a classified balance sheet??

Classified Balance sheet [ 7 Answers ]

I am lost how to balance this sheet. I have it correct except the question mark at the end. Please help. Balance Sheet Preparation From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006. Accounts Payable $62,500 Accounts...

Classified balance sheet [ 2 Answers ]

If someone can please let me know where I am making my mistake I would greatly appreciate it. Thanks in advance. Account receivable = $62,500 accounts payable = 123,500 buildings = 418,500 owner's equity, 1/1/06 = 210,000 cash = 179,750 distributions to owners during 2006 = 21,750 supplies...

Classified Balance Sheet [ 1 Answers ]

I am having trouble doing a Classified Balance Sheet. Is Accumulated Depreciation liability or assets?

View more questions Search