Completion of Balance Sheet

question 114

Essay

Completion of balance sheet
Use the following information to complete the balance sheet of Adelphi Construction as of December 31,2014.
(1)The company was organized on January 1,2014 and has operated for the full year 2014.
(2)Earnings were $275,000 and dividends of $70,000 were paid to stockholders.
(3)Cash and accounts receivable together amount to one and one-half times as much as notes payable.

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