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rolpace88 rolpace88
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Posts: 3242
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9 years ago
Prepare a balance sheet for Jake's Janitorial Service for December 31 of last year. The company assets are cash $16,000, accounts receivable $58,000, merchandise inventory $50,000, and equipment $97,000. The liabilities are accounts payable $23,000, wages payable $22,000, and mortgage note payable $87,000. The owner's capital is $89,000.
A) Jake's Janitorial Service Balance Sheet
Total assets: $221,000
Total liabilities: $132,000
Total liabilities and owner's equity: $221,000

B) Jake's Janitorial Service Balance Sheet
Total assets: $221,000
Total liabilities: $110,000
Total liabilities and owner's equity: $89,000

C) Jake's Janitorial Service Balance Sheet
Total assets: $221,000
Total liabilities: $132,000
Total liabilities and owner's equity: $89,000

D) Jake's Janitorial Service Balance Sheet
Total assets: $124,000
Total liabilities: $132,000
Total liabilities and owner's equity: $89,000
Textbook 
Business Math

Business Math


Edition: 10th
Authors:
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MillionMillion
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#1
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9 years ago
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rolpace88 Author
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#2
9 years ago
Wonderful, thx.
wrote...
#3
9 years ago
Great, please mark the topic solved!
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