gflo1978
Nov 29, 2007, 12:39 AM
From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006.
Accounts Payable... $62,500
Accounts Receivable... 123,000
Buildings... 418,500
Owner's Equity, 1/1/06... 210,000
Cash... 179,750
Distributions to owners during 2006... 21,750
Supplies... 3,750
Land... 130,000
Net Income for 2006... 479,500
Owners' Equity, 12/31/06..
Accounts Payable... $62,500
Accounts Receivable... 123,000
Buildings... 418,500
Owner's Equity, 1/1/06... 210,000
Cash... 179,750
Distributions to owners during 2006... 21,750
Supplies... 3,750
Land... 130,000
Net Income for 2006... 479,500
Owners' Equity, 12/31/06..