Listed Below in Alphabetical Order Are the Balance Sheet Items

question 39

Essay

Listed below in alphabetical order are the balance sheet items of Nolan Company at December 31, 2014. Prepare a balance sheet and include a complete heading. $$\begin{array} { l r } \text { Accounts payable } & \$ 1,000 \\\text { Accounts receivable } & 15,000 \\\text { Buildings } & 65,000 \\\text { Cash } & 11,000 \\\text { Common stock } & 80,000 \\\text { Land } & 31,000 \\\text { Equipment } & 10,000 \\\text { Retained earnings } & 41,000\end{array}$$

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Definitions:

APR

Annual Percentage Rate, which is the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, credit card, etc.

Rate Of Return

The appreciation or depreciation of an investment over a set period, quantified as a percentage of the investment's starting value.

Cash Flows

The net amount of cash being transferred into and out of a business, reflecting operational, investing, and financial activities.

Undertake

To commit oneself to and begin (an enterprise or responsibility); to take on.