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BALANCE SHEET Evaluation

Prepare a Balance Sheet for Rosebud Motel, using today’s date. Assets include Cash $17,000, Equipment $29,900, Office Supplies $2,095, Accounts Receivable $8,215 and Building $141,000. Liabilities include two separate suppliers: Elmdale Cleaning Ltd. $4,600, and Staple Supply Co. $1,150, Mortgage Payable $74,000 and Bank Loan $16,230. Remember to calculate the owner’s equity for the owner, Stevie Budd.

BALANCE SHEET Evaluation Prepare a Balance Sheet for Rosebud Motel using todays date Assets include Cash 17000 Equipment 29900 Office Supplies 2095 Accounts Rec class=

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The preparation of a Balance Sheet for Rosebud Motel as of July 26, 2022, is as follows:

Rosebud Motel

Balance Sheet

As of July 26, 2022

Assets

Current Assets:

Cash                                             $17,000

Office Supplies                               2,095

Accounts Receivable                      8,215

Total current assets                    $27,310

Long-term Assets:

Equipment          $29,900

Building                141,000        $170,900

Total assets                               $198,210

Liabilities

Current Liabilities:

Elmdale Cleaning Ltd.                $4,600

Staple Supply Co.                          1,150

Total current liabilites               $5,750    

Long-term Liabilities:

Mortgage Payable $74,000

Bank Loan                 16,230    90,230

Total liabilities                        $95,980

Owner's Equity                     $102,230 ($198,210 - $95,980

Total liabilities and equity    $198,210

What is the balance sheet?

The balance sheet is a financial statement that shows the financial position of an entity.

The balance sheet shows that the assets are equal to liabilities and equity.

Learn more about preparing balance sheets at https://brainly.com/question/1113933

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