Reference no: EM132588625

Question 1: Use the information provided below to prepare in good form, a Simple Balance Sheet for Clear Moon Company, LLC for the year ended December 31, 2018:

Buildings $25,000                                              Cash $8,000

Accounts Receivable 2,000                                 Notes payable (long term) 30,000

Land 11,000                                                     Office Supplies $1,000

Merchandise Inventory 7,000                               Accumulated Depreciation -Blding 5,000

Accounts Payable 5,000                                      M. Walters Capital 16,000

Wages Payable 3,000

NOTE: M. Walter had a net loss of $5,000 in 2018 accounting period.

Use the following Sub categories: Current Assets; Property Plant and Equipment, and Total Assets.

For Liabilities use: Current liabilities, Long-Term Liabilities, Total Liabilities and Owner's Equity.