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rolpace88 rolpace88
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8 years ago
Prepare a balance sheet for Mullen's Hardware for December 31 of last year. The company assets are cash $15,000, accounts receivable $21,000, and merchandise inventory $95,000. The liabilities are accounts payable $12,000 and wages payable $17,000. The owner's capital is $102,000.
A) Mullen's Hardware Balance Sheet
Total assets: $131,000
Total liabilities: $17,000
Total liabilities and owner's equity: $17,000

B) Mullen's Hardware Balance Sheet
Total assets: $131,000
Total liabilities: $29,000
Total liabilities and owner's equity: $131,000

C) Mullen's Hardware Balance Sheet
Total assets: $131,000
Total liabilities: $12,000
Total liabilities and owner's equity: $131,000

D) Mullen's Hardware Balance Sheet
Total assets: $95,000
Total liabilities: $12,000
Total liabilities and owner's equity: $102,000
Textbook 
Business Math

Business Math


Edition: 10th
Authors:
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MillionMillion
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8 years ago
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rolpace88 Author
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#2
8 years ago
Wonderful, thx.
billcollector95
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#3
8 years ago
You're welcome. All I ask in return is a thumbs up!
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