Home / Questions / 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.
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