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    Emirza Rahman
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    The Bray Company's balance sheet as of December 31, 2017 shows total assets of $42,200 consisting of current assets of $22,400 including $8,800 of cash and accounts receivable of $10,800. Property, plant and equipment totaled $19,800 after deducting accumulated depreciation from equipment valued at $24,000. Total liabilities were $11,400 comprising accounts payable of $9,000 and salaries and wages payable of $2,400 with owner's equity of $30,800.

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    The Bray Company's balance sheet as of December 31, 2017 shows total assets of $42,200 consisting of current assets of $22,400 including $8,800 of cash and accounts receivable of $10,800. Property, plant and equipment totaled $19,800 after deducting accumulated depreciation from equipment valued at $24,000. Total liabilities were $11,400 comprising accounts payable of $9,000 and salaries and wages payable of $2,400 with owner's equity of $30,800.

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    19 views1 page

    p4 3a

    Uploaded by

    Emirza Rahman
    The Bray Company's balance sheet as of December 31, 2017 shows total assets of $42,200 consisting of current assets of $22,400 including $8,800 of cash and accounts receivable of $10,800. Property, plant and equipment totaled $19,800 after deducting accumulated depreciation from equipment valued at $24,000. Total liabilities were $11,400 comprising accounts payable of $9,000 and salaries and wages payable of $2,400 with owner's equity of $30,800.

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    © All Rights Reserved
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    of 1

    BRAY COMPANY

    Balance Sheet
    December 31, 2017

    Assets
    Current Assets
    Cash 8,800
    Accounts Receivable 10,800
    Prepaid Insurance 2,800
    Total Assets 22,400
    Property, Plant, and Equipment
    Equipment 24,000
    Less: Accumulated Depreciation – Equipment 4,200 19,800
    Total Assets 42,200
    Liabilities and Owner’s Equity
    Current Liabilities
    Accounts Payable 9,000
    Salaries and Wages Payable 2,400
    Total Current Liabilities 11,400
    Owner’s Equity
    Owner’s Capital 30,800
    Total 42,200

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