Answer:
$196,000
Explanation:
The question is to prepare the balance sheet of Bowler Corporation as at the end of 2021.
Balance Sheet is generally divided into Assets side (Non-Current and current) Liabilities (non-current and current) and the Stockholders equity. A good balance sheet should be as follows Asset= Liabilities + Equity
Bowler Corporation Balance Sheet as at 2021
Particulars Amount($) Amount($)
Non-Current Assets
Equipment 210,000
Less: Depreciation <u> (78,000) </u> 132,000
Current Assets
Cash 9,500
Accounts receivable 19,500
Inventory <u>35,000</u>
Total Current Assets <u>64,000</u>
Total Assets 196,000
Liabilities and Equity
Current Liabilities
Accounts Payable 75,000
Salaries payable <u> 31,000</u>
Total liabilities 106,000
Equity
Common Stock 69,000
Retained earnings <u> 21,000</u>
Total stockholders' equity <u> 90,000</u>
Total Liabilities and Equity 196,000
