Prepare a December 31 Balance Sheet in Proper Form for Cane

question 131

Essay

Prepare a December 31 balance sheet in proper form for Cane Property Management using the following accounts and amounts:
$\begin{array}{ll}\text { Accounts payable }&\$40,000 \\ \text { ccounts receivable }&3,500 \\ \text {Accounts receivable}&5,000\\ \text { M. Bruno, Capital }&104,500\\ \text {Office equipment.}&10,000\\ \text {Advertising expense}&3,200\\ \text {Cash}&7,500\\ \text {Land}&35,000\\&132\end{array}$ $\begin{array}{llr} \text { Note payable. } &50,000\\ \text { Office supplies. } &1,500\\ \text { Salaries expense.} &12,000\\ \text { Salaries payable. } &1,000\\ \text { Building. } &100,000\\\end{array}$

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Definitions:

Variation

The occurrence of differences or discrepancies in characteristics, outcomes, or processes within or among entities or populations.

Degree

An academic rank conferred by universities or colleges upon completion of a course of study or the level of angle measured in degrees.

Standard Deviation

A statistical measure indicating the amount of variation or dispersion of a set of values from the mean (average) of the set.

Square Root

A value that, when multiplied by itself, gives the original number.