The following are selected entries for Warren Clinic for December 31, 2012, in a
ID: 2733355 • Letter: T
Question
The following are selected entries for Warren Clinic for December 31, 2012, in alphabetical order. Create Warren Clinic’s balance sheet.
Accounts payable $20,000
Accounts receivable, net $60,000
Cash $30,000
Equity $230,000
Long-term debt $120,000
Long-term investments $100,000
Net property and equipment $150,000
Other assets $40,000
Other long-term liabilities $10,000
Explanation / Answer
Balance sheet
Assets Cash $30,000 Account receivable $60,000 Net property and equipment $150,000 Long term investment $100,000 Other assets $40,000 Total assets $380,000 Liabilities: Account payable $20,000 Long term liabilities $10,000 Long term debt $120,000 Owners equity: Equity $230,000 Total liabilities and equity $380,000Related Questions
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