Sorting Balance Sheet Information
The account balances given below are shown on the balance sheet of a corporation.
|
Marketable securities |
$ 20,000 |
|
Invested capital |
200,000 |
|
Buildings and equipment |
400,000 |
|
Accounts receivable |
80,000 |
|
Prepaid rent |
17,000 |
|
Bonds payable |
230,000 |
|
Inventories |
85,000 |
|
Taxes payable |
30,000 |
|
Accounts payable |
16,000 |
|
Advance payments from customers |
3,000 |
|
Interest payable |
9,000 |
|
Land |
19,000 |
|
Retained earnings |
133,000 |
Required
Arrange three columns corresponding to the balance sheet equation:
ASSETS = LIABILITIES +OWNERS’ EQUITY