Let's see if you've got your ducks in a row regarding Balance Sheets. Close Window To Return To Main Quiz Menu

The General Ledger has the following accounts and balances: Land 20,000 Cash 5,000 Accounts Receivable 10,000 Buildings-Net 100,000 Accounts Payable 10,000 Accrued Salaries & Wages 2,000 Notes Payable-Current 20,000 Inventory 25,000 Capital-Beginning 50,000 Taxes Payable 3,000 Prepaid Expenses 2,000 Vehicles-Net 15,000 Supplies 1,000 Notes Payable-Long Term 70,000 Petty Cash 1,000 Instructions: Using the above information select the appropriate dollar amount for the following questions: Note: Paper, pencil, and a calculator will aid you in calculating the correct amounts. Hint: Preparing a Balance Sheet will provide you with the answers to the questions. Give the test a try on your own; but, if you need to see the results, check out the Balance Sheet I prepared for you. Question . .