Question

Can some one help me this its urgent

Answer 1

Answer: Balance sheets follow ALS

Explanation: ALS stands for Assets-Liabilities-Stock (equity).

So first, find all assets. Place them under "assets" and add/subtract as needed (most likely add). In your case it should look something like this:

ASSTES:

Cash                                 $6,414

Receivables                     $2,662

Inventory                          $3,191

Prepaid Expenses           $2,557

TOTAL CURRENT ASSETS:             $14,824

LONG TERM ASSETS:

Land                                  $16,643

Buildings                           $56,163

Equipment                         $2,750

TOTAL LONG TERM ASSETS: $75,556

TOTAL ASSETS: $90,380

Where total current assets are calculated by summing up the total short term assets and long term assets is the same but with long term assets. Finally total assets is the sum of both the long and short term assets. You then do the same for the liabilities and equity.