Prepare a Balance Sheet:
You have been presented with the following information from the books of Cool Beans Company as of Nov 30, 2011. Use this information to help you complete each of the steps below.
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Cash=$4,800
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Prepaid Rent=$2000
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Accumulated Depreciation Building=$200
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Notes Payable=$23,000
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Accounts Receivables=$2,600
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Furniture=$18,000
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Accounts Payable=$18,000
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Cool Beans Capital=$35,900
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Supplies=$600
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Building=$48,000
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Salary Payable=$900
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Salary Expense=$16,000
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Accumulated Depreciation Furniture=$300
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Interest Payable=$300
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Unearned Service Revenue=$400
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Inventory=$3000
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- Using Excel, prepare a classified balance sheet in account form.
- At the bottom of the balance sheet you prepare, answer the following question:
- What does the completed balance sheet say about the financial health of Cool Beans Company? Explain your reasoning.
Please use and provide all reference in APA format used on a reference page and please cite in APA format on which paragraph the information and or idea was used within the document.( Please cite these sources according to APA guidelines) In-text citation examples shown are for paraphrases and summaries (Author-Date pattern).
When citing a direct quote, you will also need to include either a page number or paragraph number (Author-Date-# pattern). (Ex: In-Text Citation: (Webb & Jones, 2009)) (Ex: Reference: information a paper below. Web sites are cited differently. Webb, S. J., & Jones, E. J. H. (2009).
Early identification of autism: Early characteristics, onset of symptoms, and diagnostic stability. Infants & Young Children, 22(2), 100-118.)).