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Balance Sheet

John Doe is the bookkeeper for Mendez Company. Mary has been trying to get the balance sheet of Gomez Company. John has been trying to get the balance sheet of Gomez Company to balance.

Gomez Company
Balance Sheet
January 1, 2007

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

Prepare a correct balance sheet.

Solution Preview

Assets:
Cash............................$15,000
Accounts ...

Solution Summary

The solution goes into a great amount of detail regarding the question being asked. Step by step explanation is provided for each part of the question which makes it very easy to follow along for anyone with just a basic understanding of the concepts. Overall, an excellent response to the question being asked.

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