Reference no: EM132805327
Question - On March 31 2020, the adjusted year-end account balances of Pacific West Company were as follows:
Accounts Payable $32,500
Equipment $140,000
Accounts Receivable 26,000
Interest Revenue 4,400
Accumulated Depreciation 24,000
Merchandise Inventory 52,500
Depreciation Expense 8,000
Rent and Utilities Expense 77,000
Cash 7,000
Salaries Expense 236,000
Cost of Goods Sold 599,700
Sales 1,010,000
Sue Roberts, Capital 133,000
Sales Discounts 2,7,700
Sue Roberts, Withdrawals 30,000
Required - Prepare, in good form, a classified Balance Sheet. Pacific West Company uses the perpetual inventory method. Will need to calculate the new balance for the capital account?
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