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Q1) From the following data, make a categorised balance sheet for Simon Company at December 31, 2006.

Accounts payable $62,500
Accounts receivable $123,000
Buildings $418,500
Owners\\\' equity, 1/1/06 $210,000
 
Cash $179,750
Distributions to owners during 2006 $21,750
Supplies $3,750
Land $130,000
Mortgage payable $479,500
Net income for 2006 $124,750
Owners\\\' equity, 12/31/06 ?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M918478

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