Preparing a Balance Sheet, Computing Net Income, and Understanding Equity Transactions At the beginning of...
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Preparing a Balance Sheet, Computing Net Income, and Understanding Equity Transactions At the beginning of 2015, Barth Company reported the following balance sheet. Assets Liabilities Cash $1,200 Accounts Payable $3,000 Accounts Receivable 3,675 Equity Equipment 2,500 Common Stock 11,875 Land 12,500 Retained Earnings 5,000 Total Assets $19,875 Total Liabilities and Equity $19,875 Required a. At the end of 2015, Barth Company reported the following assets and liabilities: Cash, $2,200; Accounts Receivable, $4,600; Equipment, $2,250; Land, $12,500; and Accounts Payable, $1,875. Prepare a year-end balance sheet for Barth. (Hint: Report equity as a single total.) BARTH COMPANY Balance Sheet December 31, 2015 Assets Liabilities Answer Answer 0
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