Solved

Complete the Balance Sheet

Question 21

Multiple Choice

Complete the balance sheet.
-Mullen's Hardware: mortgage $36,000; notes payable $20,000; accounts payable $18,000; long-term notes $27,000; fixed assets $92,000; inventory $65,000; accounts receivable $42,000; notes receivable
$17,000; cash $9,000; owner's equity $124,000 Complete the balance sheet. -Mullen's Hardware: mortgage $36,000; notes payable $20,000; accounts payable $18,000; long-term notes $27,000; fixed assets $92,000; inventory $65,000; accounts receivable $42,000; notes receivable $17,000; cash $9,000; owner's equity $124,000 A) Assets: 9,000; 17,000; 42,000; 65,000; 133,000; 92,000; 225,000 Liabilities: 20,000; 18,000; 38,000; 36,000; 27,000; 63,000; 101,000 Owner's Equity: 124,000; 225,000 B) Assets: 9,000; 17,000; 42,000; 65,000; 133,000; 92,000; 225,000 Liabilities: 27,000; 18,000; 45,000; 36,000; 20,000; 56,000; 124,000 Owner's Equity: 101,000; 225,000 C) Assets: 9,000; 17,000; 42,000; 65,000; 133,000; 92,000; 225,000 Liabilities: 27,000; 18,000; 45,000; 36,000; 20,000; 56,000; 101,000 Owner's Equity: 124,000; 225,000 D) Assets: 9,000; 17,000; 42,000; 133,000; 65,000; 92,000; 225,000 Liabilities: 27,000; 18,000; 45,000; 36,000; 20,000; 56,000; 101,000 Owner's Equity: 124,000; 225,000


A) Assets: 9,000; 17,000; 42,000; 65,000; 133,000; 92,000; 225,000
Liabilities: 20,000; 18,000; 38,000; 36,000; 27,000; 63,000; 101,000
Owner's Equity: 124,000; 225,000
B) Assets: 9,000; 17,000; 42,000; 65,000; 133,000; 92,000; 225,000
Liabilities: 27,000; 18,000; 45,000; 36,000; 20,000; 56,000; 124,000
Owner's Equity: 101,000; 225,000
C) Assets: 9,000; 17,000; 42,000; 65,000; 133,000; 92,000; 225,000
Liabilities: 27,000; 18,000; 45,000; 36,000; 20,000; 56,000; 101,000
Owner's Equity: 124,000; 225,000
D) Assets: 9,000; 17,000; 42,000; 133,000; 65,000; 92,000; 225,000
Liabilities: 27,000; 18,000; 45,000; 36,000; 20,000; 56,000; 101,000
Owner's Equity: 124,000; 225,000

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q16: The table compares the national averages for

Q17: Find the ratio of net income after

Q18: Complete the balance sheet.
-Clara's Secretarial Services: net

Q19: Calculate the current ratio and the acid-test

Q20: Provide an appropriate response.
-Explain the purpose of

Q22: Find the ratio of net income after

Q23: Complete the horizontal analysis for the comparative

Q24: Find the ratio of net income after

Q25: Complete the horizontal analysis for the comparative

Q26: Find (a) the gross profit, (b) the

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents