History Bookmarks Window Help edugen.wileypus.com Abby Roland is the bookkeeper

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History Bookmarks Window Help edugen.wileypus.com Abby Roland is the bookkeeper for Cheng Company. Abby has been trying to determine the correct balance sheet of Chen Company. Cheng's balance sheet is shown below. CHENG COMPANY Balance Sheet December 31, 2017 Assets Liabilities $15,000 Accounts payable Cash Supplies Equipment Owner's drawings 8,000 Accounts receivable 46,000 Owner's capital 13,000 Total liabilities and owner's equity $21,000 (6,500) 67,500 $82,000 Total assets $82,000 Prepare a correct balance sheet. (List Assets in order of liquidity,) CHENG COMPANY Balance Sheet Assets 8,00o Owners Drawings 13,000 co00 Liabilities and Owner's Equity MacBook Pro F4 FS FS 7 F8 F9 FVO

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CHENG Comapany Balance Sheet December 31' 2017 Assest Amount Liabilities Amount Current Assets Current Liabilities Cash $15,000 Accounts Payable $21,000 Accounts Receivables $6,500 Supplies $8,000 Fixed Assets Equity Equipment $46,000 Owner's Capital $67,500 Less : Drawings -$13,000 $75,500 $75,500

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