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2 years ago

BALANCE SHEET Evaluation

Business

1 answer:

bija089 [108]2 years ago

7 0

The preparation of a Balance Sheet for Rosebud Motel as of July 26, 2022, is as follows:

Rosebud Motel

<h3>Balance Sheet</h3>

As of July 26, 2022

Assets

Current Assets:

Cash $17,000

Office Supplies 2,095

Accounts Receivable 8,215

Total current assets $27,310

Long-term Assets:

Equipment $29,900

Building 141,000 $170,900

Total assets $198,210

Liabilities

Current Liabilities:

Elmdale Cleaning Ltd. $4,600

Staple Supply Co. 1,150

Total current liabilites $5,750

Long-term Liabilities:

Mortgage Payable $74,000

Bank Loan 16,230 90,230

Total liabilities $95,980

Owner's Equity $102,230 ($198,210 - $95,980

Total liabilities and equity $198,210

<h3>What is the balance sheet?</h3>

The balance sheet is a financial statement that shows the financial position of an entity.

The balance sheet shows that the assets are equal to liabilities and equity.

Learn more about preparing balance sheets at brainly.com/question/1113933

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