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Assets Current assets: cash $16,000 Accounts receivable 6000 Total current assets $22,000 Property, plant, and equipment:...

Assets Current assets: cash $16,000 Accounts receivable 6000 Total current assets $22,000 Property, plant, and equipment: Equipment 12,000 Accumulated Depreciation- equipment (credit balance) (6,000) Total property, plant, and equipment 6,000 Total assets 28,000 Liabilities Current liabilities Accounts payable 1,800 Total current liabilities 1,800 Stockholders’ equity Common stock 1,000 Retained earnings 25,000 Total stockholders’ equity 26,000 Total liabilities and stockholders’ equity 27, 800 I am trying to create a balance sheet with the information the instructor gives. She is very difficult to reach and I do not want to do this incorectly. Is there anyway someone can tell me what is wrong with my calculations. I also notice that the total liabilities does not match with total asset and I am not sure what I am missing.

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Answer #1

yes of course you are missing something on Total liabilities and stockholders’ equity side. both sides total asset and total Total liabilities and stockholders’ equity sides should have same balance. Till now everything seems well but Kindly check in your question if you are missing something with 200 balance on liability side or you can verify all amounts once gain to check if you have written all given amounts correctly. Kindly verify and get back to me once again. It needs thorough verification of answer with question from your side.

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