Prepare a 2017 balance sheet for Jarrow Corp. based on the following information:

Business

1 answer:

Basile [38]3 years ago

3 0

Answer and Explanation:

The preparation of the balance sheet is presented below:

Assets Liabilities & Equity

Cash $142,000 Account payable $219,500

Account receivable $162,500 Note payable $115,000

Inventory $300,500 Long term debt $860,000

Tangible net fixed assets $1,655,000 Common stock $447,500

(Balancing figure)

Patents & copyrights $630,000 Acc retained earnings $1,248,000

Total assets $2,890,000 Total liabilities & Equity $2,890,000

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