Friday, 9 November 2012

The following is selected financial information for Affiliated Company as of December 31, 2011: liabilities, $41,638; equity, $67,362; assets, $109,000.

The following is selected financial information for Affiliated Company as of December 31, 2011: liabilities, $41,638; equity, $67,362; assets, $109,000.

Required:
Prepare the balance sheet for Affiliated Company as of December 31, 2011. (Omit the "$" sign in your response.)

Affiliated Company
Balance Sheet
December 31, 2011
  Assets correct $ 109,000 correct  
  
 Total Assets $ 109,000 correct  
  

  Liabilities correct $ 41,638 correct  
  Equity correct 67,362 correct  
  
 Total Liabilities and Equity $ 109,000 correct  
  

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