Using the account balances below, prepare a Balance Sheet for the year ending December 31,...
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Using the account balances below, prepare a Balance Sheet for the year ending December 31, 2001. Cash $10,450.00 Mortgage $80,000.00 Short Term Loan $40,000.00 Accounts Receivable $22,400.00 Marketable Securities $90,000.00 Accumulated Depreciation $45,000.00 Accounts Payable $10,400.00 Inventories $32,000.00 Equipment $51,850.00 Furniture $58,000.00 Building $270,000.00 Accrued Expense Payable $7,500.00 Long Term Loan S60,000.00 Common Stock $230,900.00 Retained Earnings $60,900.00 After prepare your balance sheet, answer the following questions: 1. What is the value of Total Current Assets? Ans: 2. What is the value of Total Fixed Assets? Ans: 3. What is the value of Net Fixed Assets (after Depreciation) Ans: 4. What is the value of Total Assets? Ans: 5. What is the value of Total Current Liabilities? Ans: 6. What is the value of Total Long Term Liabilities? Ans: 7. What is the value of Total Equity? Ans: 8. What is the value of Total Liabilities & Equity? Ans
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