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28 Sep 2019
financial reporting & anaylsis 13th edition, gibson. Chapter 3 problem 2. balance sheet problem. I cannot get my assets to equal my liabilities & se. I have checked all the figures. made sure all accounts are in the proper sections. I have assets equal to $307,000 and my liabilities equal $303,000. Any suggestions?
Common Stock 3180
Retained Earnings 129950
Deferred income tax liability (long term) 24000
long term debt 99870
accounts payable 35000
buildings 75000
machinery and equipment 300000
land 11000
accumulated depreciation 200000
cash 3000
receivable, less allowance of 3000 58000
accrued income taxes 3000
inventory 54000
other accrued expenses 8000
current portion of longe term debt 7000
prepaid expenses 2000
other assets (long term) 7000
financial reporting & anaylsis 13th edition, gibson. Chapter 3 problem 2. balance sheet problem. I cannot get my assets to equal my liabilities & se. I have checked all the figures. made sure all accounts are in the proper sections. I have assets equal to $307,000 and my liabilities equal $303,000. Any suggestions?
Common Stock 3180
Retained Earnings 129950
Deferred income tax liability (long term) 24000
long term debt 99870
accounts payable 35000
buildings 75000
machinery and equipment 300000
land 11000
accumulated depreciation 200000
cash 3000
receivable, less allowance of 3000 58000
accrued income taxes 3000
inventory 54000
other accrued expenses 8000
current portion of longe term debt 7000
prepaid expenses 2000
other assets (long term) 7000
Keith LeannonLv2
28 Sep 2019