Young Company reported the following balance sheet for the end of Year 1:
During Year 2, Young reported the following transactions:
Repaid $9,000 to a local bank on a note payableProvided services to clients for $27,400 cashPaid operating expenses of $20,200Paid $4,500 cash dividends to stockholders
Required:Prepare Young Company's balance sheet as of December 31, Year 2.

Question

Young Company reported the following balance sheet for the end of Year 1:
  During Year 2, Young reported the following transactions:
Repaid $9,000 to a local bank on a note payableProvided services to clients for $27,400 cashPaid operating expenses of $20,200Paid $4,500 cash dividends to stockholders
Required:Prepare Young Company's balance sheet as of December 31, Year 2.

Quizplus · Accepted Answer

The Answer of Young Company reported the following balance sheet for the end of Year 1:
  During Year 2, Young reported the following transactions:
Repaid $9,000 to a local bank on a note payableProvided services to clients for $27,400 cashPaid operating expenses of $20,200Paid $4,500 cash dividends to stockholders
Required:Prepare Young Company's balance sheet as of December 31, Year 2.

Young Company Reported the Following Balance Sheet for the End