Question

The following information is available for Pharaoh Company: Accounts receivable: $2,200 Cash: $6,300 Accounts payable: $4,500 Supplies: $3,820 Interest payable: $540 Unearned service revenue: $920 Salaries and wages expense: $5,000 Salaries and wages payable: $760 Notes payable: $32,500 Depreciation expense: $670 Common stock: $50,500 Equipment (net): $109,800 Inventory: $2,910 Using the information above, prepare a balance sheet as of December 31, 2022. (Hint: Solve for the missing retained earnings amount after first determining total assets and total liabilities.) (List assets in order of liquidity.)

          The following information is available for Pharaoh Company:

Accounts receivable: $2,200
Cash: $6,300
Accounts payable: $4,500
Supplies: $3,820
Interest payable: $540
Unearned service revenue: $920
Salaries and wages expense: $5,000
Salaries and wages payable: $760
Notes payable: $32,500
Depreciation expense: $670
Common stock: $50,500
Equipment (net): $109,800
Inventory: $2,910

Using the information above, prepare a balance sheet as of December 31, 2022. (Hint: Solve for the missing retained earnings amount after first determining total assets and total liabilities.) (List assets in order of liquidity.)

Added by Carolina L.

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