Cash Accounts Receivable Inventory Equipment (cost) Personal Residence Supplies Family Auto Total Assets Liabilities and...
50.1K
Verified Solution
Question
Accounting
Cash Accounts Receivable Inventory Equipment (cost) Personal Residence Supplies Family Auto Total Assets Liabilities and Owner's Equity Accounts Payable Note Payable on Family Car Mortgage on House Sadie Hawkins, Capital Total Liabilities and Owner's Equity $ 14,600 15, Bee 39,800 29,000 196,000 2,040 28,000 $325,240 33 34 points eBook 16,25e 100,000 192,190 References The following additional information was made available by Hawkins: o. The inventory has an original cost of $31.700. It is listed on the balance sheet at the estimated selling price. b. The cash listed on the balance sheet includes $3,100 in Sadie Hawkins' personal account. The remainder of the cash is in the store's account c. The store recently purchased a delivery truck for $33,000, financed through a bank loan. The bank has legal title to the truck. To date, the store has paid $9,800 on the loan. Of the remaining $23.200 liability. $9,400 is current and the remainder long term. Hawkins did not include the truck or the liability on the balance sheet because neither she nor the business owns it d. Depreciation allowable to date is $5.800 on the equipment and $3,800 on the truck Required: 2. Prepare a corrected balance sheet in accordance with generally accepted accounting principles THE EDUCATIONAL SUPPLY CENTER Balance Sheet

Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.