choose one alternative best completes statement or answers question solve problem prepare ba
Choose the one alternative that best completes the statement or answers the question. Solve the problem.
Prepare a balance sheet for Mullen’s Hardware for December 31 of last year. The company assets are cash $15,000, accounts receivable $21,000, and merchandise inventory $95,000. The liabilities are accounts payable $12,000 and wages payable $17,000. The owner’s capital is $102,000.
Mullen’s Hardware Balance Sheet
Total assets: $131,000
Total liabilities: $29,000
Total liabilities and owner’s equity: $131,000
Mullen’s Hardware Balance Sheet
Total assets: $131,000
Total liabilities: $12,000
Total liabilities and owner’s equity: $131,000
Mullen’s Hardware Balance Sheet
Total assets: $95,000
Total liabilities: $12,000
Total liabilities and owner’s equity: $102,000
Mullen’s Hardware Balance Sheet
Total assets: $131,000
Total liabilities: $17,000
Total liabilities and owner’s equity: $17,000
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