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3 years ago

The following items are taken from the financial statements of Cullumber Company for 2022:

Business

1 answer:

Doss [256]3 years ago

4 0

Answer:

Cullumber Company

Balance Sheet

As at 2022

Explanation: Amount in $

Current Assets

Accounts Receivable 12,500

Cash 13,000

Prepaid Insurance 6,600

Supplies 4,600

Total Current Assets 36,700

Non-Current Assets

Equipment (225,000-36,900) 188,100

Total Assets 224,800

Liabilities & Shareholders' Equity

Current Liabilities

Accounts Payable 10,600

Notes Payable 65,000

Salaries Payable 3,900

Total Current Liabilities 79,500

Equity

Common Stocks 97,000

Retained Earnings (25,900+133,000-21,400-13,600-2,600-16,800-33,500-6,700) 64,300

Dividends (16,000)

Total Equity 145,300

Total Liabilities & shareholders' equity 224,800

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