ACC 205 Week 1 Exercise 3 Balance sheet preparation

ACC 205 Week 1 Exercise 3 Balance sheet preparation

Balance sheet preparation. The following data relate to Preston Company as of December 31, 19XX:

Building $44,000 Accounts receivable $24,000

Cash 17,000 Loan payable 30,000

  1. Preston, Owners Equity 65,000 Land 21,000

Accounts payable ?

Prepare a balance sheet as of December 31, 19XX. (See Exhibit 1.1 and 1.4)

 

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