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geniusboy [140]
3 years ago
14

Make balance sheet

Business
1 answer:
iren [92.7K]3 years ago
7 0

Answer:

Balance Sheet as at year end

ASSETS

Cash (5000 + 600 - 800 - 2000)                        $2,800

Trade Receivable ( -600)                                      ($600)

TOTAL ASSETS                                                    $2,200

EQUITY AND LIABILITIES

EQUITY

Retained Earnings (5000 -800 - 2000)             $2,200

TOTAL EQUITY                                                    $2,200

LIABILITIES  

Liabilities                                                                      $0

TOTAL LIABILITIES                                                     $0

TOTAL EQUITY AND LIABILITIES                      $2,200

Explanation:

The Balance sheet contains balances of Assets, Liabilities and Equity as at the Reporting date.

So given the above transactions above, we have to identify which accounts (Assets, Liabilities or Equity) are affected by each transaction, than record under the relevant heading as shown in the solution.

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g Robert Hitchcock is 40 years old today and he wishes to accumulate $500,000 by his 65th birthday so he can retire to his summe
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The correct answer is $6934.48.

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So, we can calculate the annual deposit amount by using following formula:

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