Given the following account information for the first year of Atlantic Enterprises, prepare the asset...
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Accounting
Given the following account information for the first year of Atlantic Enterprises, prepare the asset section of the a balance sheet ONLY for the company as of December 31, 2020. All accounts have normal balances.
Equipment 60,000
Interest Expense 2,400
Interest Payable 600
Retained Earnings ?
Dividends 50,400
Land 137,320
Accounts Receivable 102,000
Bonds Payable 78,000
Notes Payable (due in 6 months) 29,400
FV-NI Investments (FV 19,500) 17,000
Common Shares 70,000
Accumulated DepreciationEquip 10,000
Prepaid Advertising 5,000
Service Revenue 341,400
Buildings 80,400
Supplies 1,860
Income Taxes Payable 3,000
Utilities Expense 1,320
FV-OCI Investments (FV 49,000) 51,000
Advertising Expense 1,560
Long Term Investments 66,000
Salaries and Wages Expense 53,040
Salaries and Wages Payable 900
Accumulated Depr.Bld 15,000
Cash 45,000
Depreciation Expense 8,000
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