Problem - Suppose a company has the following balance sheet accounts; calculate the missing amounts assuming the company has total assets of $48,000.
|
Accounts
|
Balances
|
|
Land
|
$8,500
|
|
Building
|
|
|
Salaries payable
|
3,400
|
|
Common stock
|
|
|
Accounts payable
|
2,900
|
|
Cash
|
5,200
|
|
Retained earnings
|
11,800
|
|
Supplies
|
3,200
|
|
Equipment
|
4,700
|