Sorting Balance Sheet Information
The account balances given below are shown on the balance sheet of a corporation.
|
Marketable securities
|
$ 20,000
|
|
Invested capital
|
200,000
|
|
Buildings and equipment
|
400,000
|
|
Accounts receivable
|
80,000
|
|
Prepaid rent
|
17,000
|
|
Bonds payable
|
230,000
|
|
Inventories
|
85,000
|
|
Taxes payable
|
30,000
|
|
Accounts payable
|
16,000
|
|
Advance payments from customers
|
3,000
|
|
Interest payable
|
9,000
|
|
Land
|
19,000
|
|
Retained earnings
|
133,000
|
Required
Arrange three columns corresponding to the balance sheet equation:
ASSETS = LIABILITIES +OWNERS' EQUITY