Balance Sheet
Not what you're looking for?
Mary Close is the bookkeeper for Mendez Company. Mary has been trying to get the
balance sheet of Mendez Company to balance. Below is a balance sheet but it is not correct and needs to be fixed.
harmony harris: MENDEZ COMPANY
Balance Sheet
December 31, 2008
Assets Liabilities
Cash $15,000 Accounts payable $20,000
Supplies 8,000 Accounts receivable (8,500)
Equipment 46,000 Common stock 50,000
Dividends 10,000 Retained earnings 17,500
Total assets $79,000 Total liabilities and
stockholders' equity $79,000
Purchase this Solution
Solution Summary
This solution describes how to set up and balance a balance sheet.
Purchase this Solution
Free BrainMass Quizzes
Introduction to Finance
This quiz test introductory finance topics.
Organizational Leadership Quiz
This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.
Cost Concepts: Analyzing Costs in Managerial Accounting
This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.
Employee Orientation
Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.
Balance Sheet
The Fundamental Classified Balance Sheet. What to know to make it easy.