Question 13 Your answer is partially correct. Try again. These items are taken f

Question

Question 13 Your answer is partially correct. Try again. These items are taken from the financial statements of Blue Spruce Corp. at December 31, 2017. Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2017) Accumulated depreciation-buildings Accounts payable $126,960 15,120 3,840 14,208 98,880 73,440 936 6,360 3,120 72,000 48,000 54,720 11,400 112,320 22,464 4,320 17,640 Notes payable Accumulated depreciation-equipment Interest payable Service revenue

Explanation / Answer

Balance sheet Assets Amount cash 14208 account receviable 15120 prepaid insurance 3840 total current assets 33168 Non current assets land 73440 building 126960 less: acc deprecition 54720 72240 equipment 98880 less: acc deprecition 22464 76416 total non current assets 222096 total assets 255264 laibilities and stockholder's equity current laibility accounts payable 11400 interest payable 4320 note payable total current laibilities 15720 non current laibilities note payable (long term) 112320 total laibilities 128040 stockholder's equity common stock 72000 72000 retained earning (48000)+17640-936-6360-3120) 55224 total stockholders equity 127224 total laibilities and equity 255264

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