Young Company reported the following balance sheet for the end of 2015:
During 2016,Young reported the following transactions:
$\bullet$ Repaid $9,000 to a local bank on a note payable
$\bullet$ Provided services to clients for $27,400 cash
$\bullet$ Paid operating expenses of $20,200
$\bullet$ Paid $4,500 cash dividends to stockholders

Required:
Prepare Young Company's balance sheet as of December 31,2016.

Question

Young Company reported the following balance sheet for the end of 2015:
During 2016,Young reported the following transactions:
$\bullet$ Repaid $9,000 to a local bank on a note payable
$\bullet$ Provided services to clients for $27,400 cash
$\bullet$ Paid operating expenses of $20,200
$\bullet$ Paid $4,500 cash dividends to stockholders
  
Required:
Prepare Young Company's balance sheet as of December 31,2016.

Quizplus · Accepted Answer

The Answer of Young Company reported the following balance sheet for the end of 2015:
During 2016,Young reported the following transactions:
$\bullet$ Repaid $9,000 to a local bank on a note payable
$\bullet$ Provided services to clients for $27,400 cash
$\bullet$ Paid operating expenses of $20,200
$\bullet$ Paid $4,500 cash dividends to stockholders
  
Required:
Prepare Young Company's balance sheet as of December 31,2016.

Young Company Reported the Following Balance Sheet for the End ∙\bullet∙

Young Company Reported the Following Balance Sheet for the End $\bullet$