E 2-6 Simon Company From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006.
Exercise 2-6 Balance Sheet Preparation p. 63
From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006.
From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006.
Accounts payable
|
$ 62,500
|
Accounts receivable
|
123,000
|
Buildings
|
418,500
|
Owners' equity, 1/1/06
|
210,000
|
Cash
|
179,750
|
Distributions to owners during 2006
|
21,750
|
Supplies
|
3,750
|
Land
|
130,000
|
Mortgage payable
|
479,500
|
Net income for 2006
|
124,750
|
Owners' equity, 12/31/06
|
?
|
