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The hypothetical company XYZ Inc started its operations in 2020. On December 31 2020, it had the following adjusted tria

Posted: Fri Jul 01, 2022 8:48 am
by answerhappygod
The hypothetical company XYZ Inc started its operations in 2020.On December 31 2020, it had the following adjusted trialbalance:
Account
Balance ($)
Notes Payable
20,000
Wages Payable
8,000
Additional Paid In Capital
300,000
Common Stock at par value
60,000
A/P
60,000
PP&E (at cost)
110,000
Inventory
62,000
Cash
419,000
Unearned Revenues
10,000
Accumulated Depreciation
10,000
Account Receivables
?
Retained Earnings
230,000
During 2021 the following transactions occurred:
Prepare the Balance Sheet as of December 31, 2021
If the answer is $123,456 please type123456
No commas, no $ signs
If an account carries a negative balance do not put anegative sign (-) Do not write any account carrying negativebalances in parenthesis. If the account balance is -$1,000(negative $1,000) just type 1000
Round to nearest integer, if necessary.
Cash
Inventories
Account Receivables
PP&E
Accumulated Depreciation
TOTAL ASSETS
Accounts Payable
Wages Payable
Rent Payable
Taxes Payable
Dividends Payable
TOTAL LIABILITIES
Common Stock at par
Additional Paid In Capital
Retained Earnings
TOTAL EQUITY
TOTAL LIABILITIES + EQUITY