Question

高分悬赏！！帮我把一段英文会计解答！！不胜感激...2

HERE COME THE CLOWNS! Is the name of a traveling circus The ledger accounts of the business at June 30, 2007, are listed here in order:

Accounts Payable……………..$26,100 Notes Payable………………$180,000
Accounts Receivable……………$7,450 Notes Receivable………………..$9,500
Animals…………………………..$189,060 Props and Equipment……...$89,580
Cages………………………………..$24,630 Retained Earnings………….. $27,230
Capital Stock……………………$310,000 Salaries Payable..………………$9,750
Cash……………………………….$? Tents……………………………….$63,000
Costumes…………………………..$31,500 Trucks & Wagons………….$105,840

Instructions
a. Prepare a balance sheet by using these items and computing the amount of Cash at June 30, 2007. Organize your balance sheet similar to the one illustrated in Exhibit 2-10. (After” Ac-counts Receivable,’ ’you many list the remaining assets in any order.)
Include a proper balance sheet heading.
b. Assume that late in the evening of June 30, after your balance sheet had been prepared, a fire destroyed one of the tents, which had cost $14,300.The tent was not insured. Explain what changes would be required in your June 30 balance sheet to reflect the loss of this asset.

Answer 1

a.
Balance Sheet
June 30,2007
The CLOWNS

Cash $32,520
Notes Receivable $9,500
Accounts Receivable $7,450
Inventories $220,560 (Animals+Costumes)
Current Assets $270,030

Fixed Assets $283,050 (Cages+Props and Equipment+Tents+Trucks&Wagons)

Total Assets $553,080

Notes Payable $180,000
Accounts Payable $26,100
Salaries Payable $9,750
Total Libilities $215,850

Capital Stock $310,000
Retained Earnings $27,230
Total Owners' Equities $337,230

Total Equities $553,080

b.$14,300 would be substracted from Retained Earnings and tents respectively.