Problem 1-1: The Hokey Corporation
Below, a list of balances for the Hokey Corporation on December 31, 2019:
| Accounts Payable | 320 |
| Accounts Receivable | 2000 |
| Buildings | 3000 |
| Cash | 6000 |
| Equipment | 900 |
| Fixtures | 6000 |
| Inventory | 200 |
| Land | 700 |
| Loan Receivable | 300 |
| Note Payable | 3600 |
| Paid in Capital | 15180 |
Required: Prepare a Balance Sheet as of December 31, 2019.
Solution 1-1: The Hokey Corporation
Hokey Corporation: Balance Sheet as of December 31, 2019.
| Assets | $ |
| Cash | 6000 |
| Accounts Receivable | 2000 |
| Inventory | 200 |
| Loan Receivable | 300 |
| Equipment | 900 |
| Fixtures | 6000 |
| Buildings | 3000 |
| Land | 700 |
| Total Assets | 19100 |
| |
| Liabilities and Owners Equity | |
| Accounts Payable | 320 |
| Note Payable | 3600 |
| Paid in Capital | 15180 |
| Total Liabilities & OE | 19100 |
Get 100% correct and authentic
accounting assignment help,
accounting homework help,
accounting exam help, and
accounting coursework help at affordable prices
