need the balance sheet for april 30 for this company. Here was the beg. Balance
ID: 2434800 • Letter: N
Question
need the balance sheet for april 30 for this company.Here was the beg. Balance in Apr.1:
• Assests:
3,255 cash, 3,000 Account receivable, 600 inventory, 200 prepaid insurance,500 prepaid rent, 18,000 truck, (250) accum. Depr.
*liability:
16,000 notes payable, 80 interest payable.
*contributed capital:
6,000 common stock
*Retained earnings:
3,225 retained earning.
Then there was a transactions and adjustments as follow:
Apr.1 collected 3,000 of accounts receivable from march sales.
Apr.2 purchased 1,200 caps @ $6 each on account
Apr.6 paid 700 cash for office supplies
Apr.20 Tim's Tams sold 800 baseball caps at $10 each on account
Apr 30 Tim Tam's declared and paid a 400 cash dividend to its shareholder.
Apr 30 Adjusted for insurance used during the month.recall that on Feb 1, Tim's Tams paid 600 for three months of insurance coverage that began feb.1
Apr 30 Adjusted for rent used during the month. Recall that Tim's Tams paid 1,000 for two months rent.
Apr 30 recorded one month's straight- line depreciation on the 18,000 truck that has a 6-year useful life and no salvage value.
Apr 30. Counted the office supplies and found that 200 of supplies have not been used.
Apr 30 recorded interest on the 16,000 4-month, 6 % note payable for the month.
So what is the balance sheet for Tim tams company by Apr.30?
I don’t need the transactions them self only the balance sheet that includes the current liabilities, assets and the truck net ..etc.
I need the answer from an expert please. Thank you
Explanation / Answer
The Balance sheet on Apr. 30 Assets Cash 5155 Accounts receivable 8000 Office supplies 200 Inventory 3000 Truck 18,000 Accumulated Depreciation (500) Total 33,855 Liabilities Accounts Payable 7200 Notes Payable 16000 Interest payable 160 Common stock 6000 Retained earnings 4495 Total 33855
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