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Prepare a December 31 Balance Sheet in Proper Form for Smokey

Question 295

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Prepare a December 31 balance sheet in proper form for Smokey River Supplies from the following list of the accounts:
 Cash $10,000 Accounts receivable 8,000 Supplies12,000 Equipment35,000 Land18,000 Accounts payable 13,000 Notes payable 41,000 Common stock 20,000 Retained earnings9,000\begin{array}{llr} \text { Cash } &\$10,000\\ \text { Accounts receivable } &8,000\\ \text { Supplies} &12,000\\ \text { Equipment} &35,000\\ \text { Land} &18,000\\ \text { Accounts payable } &13,000\\ \text { Notes payable } &41,000\\ \text { Common stock } &20,000\\ \text { Retained earnings} &9,000\\\end{array}

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