Balance Sheet Preparation
From the following data, prepare a classified balance sheet for Taylorsville Construction
Company at December 31, 2009.

Accounts payable.. . $ 74,300
Accounts receivable.. . 113,500
Buildings.. . 512,000
Owners’ equity, 1/1/09.. . 314,300
Cash.. . 153,600
Distributions to owners during 2009.. . 48,100
Supplies.. . 4,250
Land.. . 90,000
Mortgage payable.. . 423,400
Net income for 2009.. . 109,450
Owners’ equity, 12/31/09..

Balance sheet for Taylorsville Construction as on dec 31 2009

Liabilities
Owners' equity 1/1/09 314,300
Add Net income for 2009 109,450
(Less) Distributions to owners during 2009 (48,100)

Owners' equity 12/31/09 3,75,650
Mortgage payable 423,400
Accounts payable 74,300

TOTAL 8,73,350

Asset
Accounts receivable 113,500
Buildings 512,000
Cash 153,600
Supplies 4,250
Land 90,000

TOTAL 8,73,350

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mstillylace, at least show us some attempt at doing your work, or ask specific questions about what you don't understand.

Manik, yours is not organized correctly.