Question

In alphabetical order below are balance sheet items for Swifty Corporation at December 31, 2019. Accounts payable $86,500 Accounts receivable 70,500 Cash 49,000 Common stock 33,000 Prepare a balance sheet. (List Current Assets in order of liquidity.)

Answer 1

Answer:

Explanation:

The preparation of the balance sheet for Swifty Corporation on December 31, 2019 is presented below

                                       Swifty Corporation

                                        Balance sheet

                                       On December 31, 2019

Assets                                                  

Cash                               $49,000

Accounts receivable      $70,500

Total Assets                    $119,500

Liabilities And Stockholder's Equity

Liabilities

Account payable             $86,500

Stockholder Equity

Common stock                 $33,000

Total liabilities

and stockholders equity   $119,500