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The following accounts are on the Balance Sheet section of Scents Galore worksheet for the

The following accounts are on the Balance Sheet section of Scents Galore worksheet for the period ending November 30, 2014.

Required: Prepare a classified Balance Sheet for the company as of Nov. 30, 2014.

 

Additional information: Withdrawals for the period are $4, and Net Income is $12.

Account

Balance Sheet Debit

Balance Sheet Credit

Cash

6

 

Accounts Receivable

10

 

Merchandise Inventory

14

 

Store Equipment

30

 

Accumulated Amortization - Store Equipment

 

6

Accounts Payable

 

14

Mortgage Payable

 

24

Scents Galore, Capital

 

8

 

78) The following accounts are on the Balance Sheet section of Great Lakes Camping worksheet for the month ended January 31, 2013.

Required: Prepare a classified balance sheet.

 

Account

Balance Sheet Debit

Balance Sheet Credit

Cash

2

 

Accounts Receivable

4

 

Merchandise Inventory

2

 

Store Equipment

6

 

Accumulated Amortization

- Store Equipment

 

2

Accounts Payable

 

3

Mortgage Payable

 

6

Great Lakes, Capital

 

2

Additional information: Withdrawals for the period are $2, and Net Income is $3.

Dec 06 2019 Read more Less More

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