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$1.00 FIN324 Week 3 E 2-25 Balance Sheet Preparation LO1, LO2 From the following...

  • From Business: Finance
  • Closed, but you can still post tutorials
  • Due on Jun. 24, 2011
  • Asked on Jun. 21, 2011 at 12:25:40AM
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bperezcruz
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Q:
FIN324 Week 3 E 2-25 Balance Sheet Preparation LO1, LO2 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 . . . . . . . . . . . . . . . ?