Description
Module 03 Written Assignment – The Balance Sheet
Review the account balances of Ma and Pa Grocery as of December 31, 20##, in the Excel Template.
Requirements:
- Prepare the Statement of Retained Earnings for the period ending December 31, 20##.
- Prepare the Balance Sheet as of December 31, 20##.
- Calculate the current ratio for the year
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Explanation & Answer
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Module 3 Assignment:
Prepare the statement of retained earnings and balance sheet for Ma and Pa Grocery as of December 31, 20XX.
Calculate the current ratio for the year.
Sales Revenue
Equipment
Accounts Payable
Sales Discounts
Advertising Expense
Interest Expense
Wages Payable
Accounts Receivable
Building
Common Stock
Sales returns and Allownaces
Utilities Expense
Inventory
Commission Expense
Cost of goods sold
Accumulated depreciation-equipment
Unearned sales revenue
...