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Make a correct balance sheet in the form

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Reference no: EM132914739

Problem - Oscar Posker is the bookkeeper for Malkin Ltd. Oscar has been trying to get the balance sheet to balance. Oscar presents you with the following:

Malkin Ltd Balance Sheet For the Year Ending 31 December 2019

Assets Liabilities

Equipment $38,000 Accounts payable $13,000

Supplies 7,100 Loan payable (due 01/05/22) 20,000

Vehicle 10,000 Accounts receivable (12,500)

Cash 17,400 Share capital 40,000

Dividends 6,200 Retained earnings 18,200

Total assets $78,700 Total equity and liabilities $78,700

Required -

1. Make a correct balance sheet in the form. Ignore depreciation.

2. Please submit this problem as your online submission.

Reference no: EM132914739

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