Accounting Question

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ao83

Business Finance

City University of Seattle

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Instructions: Prepare a balance sheet on a separate sheet for ABC Ltd as at 31st October 2022. PLEASE record each item in these FIVE categories in the Balance Sheet below: Current Assets # Current Liabilities Description Long Term Assets Long Term Liabilities Trial Balance as at 31st October 2022 Debit Amount ($) Owner’s Equity Credit Amount ($) 1 Cash 115,000 2 Accounts receivable 32,665 3 Inventory 5,800 4 Prepaid Insurance 8,700 5 Accounts payable 116,500 6 Salaries payable 26,300 7 Unearned revenue 17,900 8 Notes receivable (after 2 years) 36,900 9 Machinery & Equipment (M&E) 15,510 10 Accumulated depreciation – M&E 5,825 11 Notes payable (within one year) 42,000 12 Owner’s Capital 100,550 13 Patent & Trademark 11,500 14 Building 129,000 15 Accumulated depreciation – Building 43,000 16 Loan Payable (after two years) 9,000 17 Interest receivable (within one year) 6,000 TOTAL 361,075 361,075 ABC LTD. ASSETS BALANCE SHEET AS AT 31ST October 2022 AMOUNT ($) LIABILITIES Current Assets Current Liabilities Long Term Assets Long Term Liabilities Owner’s Equity TOTAL ASSETS TOTAL LIABILITIES & OWNER EQUITY AMOUNT ($)
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Instructions: Prepare a balance sheet on a separate sheet for ABC Ltd as at 31st October 2022.
PLEASE record each item in these FIVE categories in the Balance Sheet below:
Current Assets

#

Current Liabilities

Description

Long Term Assets

Long Term Liabi...


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