Hi can anyone please help me with this, I tried the balance sheet but something is wrong to begin with. This is the links but I don't understand. As you can see my Balance Sheet is way off course. I need to do this please tell me what I am doing incorrect. :confused:
Mediafire link password: peachesBUNDA
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http://lessons.pennfoster.com/pdf/390904.pdf
My working:
Assets
Cash... 75,275.27
Petty Cash... 350.00
Accounts Receivable... 17,686.44
Merchandise Inventory... 115,750.00
Office Supplies... 1,580.00
Store Supplies... 1,459.15
Prepaid Insurance... 8,100.00 = 220,200.86
Fixed Asset
Land... 75,000.00
Building... 200,000.00
Less Accum./ Depr-Building... 20,500.00... 179,500.00
Store Equipment... 10,275.00
Less Accum. Depr.-Store Equip... 1,220.00... 9,050.00
Office Equipment... 13,525.00
Less Accum. Depr.-Office Equip... 1,850.00... 11,675.00 = 275,225.00
Total Fixed Asset... = 495,425.86