Question

The accountant of Roger Company has provided the following balance to Jim Poole, the bookkeeper. Please prepare for Jim, a balance sheet for December 31, 2013.

Building $40,000               Mortgage note payable $60,000

Merchandise inventory 14,000       Common stock 40,000

Cash 30,000                   Retained earnings 28,000

Land 42,000                   Accounts receivable 6,000

Accounts payable 18,000           Salaries payable 6,000

Prepaid rent 20,000       

Answer 1

Assets		Liability
Current Assets	70,000.00	Current Liability	84,000
Cash	30,000.00	Accounts Payable	18,000
Prepaid Rent	20,000.00	Mortgage Note Payable	60,000
Accounts Recievable	6,000.00	Salaries Payable	6000
Merchandise inventory	14,000.00
Property Pland and Equipment	82,000	Shareholders Equity	68,000
Building	40,000	Common Stock	40,000
Land	42,000	Retained Earnings	28,000
Total Assets	152,000	Total Liabilities + Shareholders equity	152,000