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.