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You have been presented with the following information from the books of Cool Beans Company as of Nov 30, 2011. Use this information to help you complete each of the steps below.

Cash=$4,800

Prepaid Rent=$2000

Accumulated Depreciation Building=$200

Notes Payable=$23,000

Accounts Receivables=$2,600

Furniture=$18,000

Accounts Payable=$18,000

Cool Beans Capital=$35,900

Supplies=$600

Building=$48,000

Salary Payable=$900

Salary Expense=$16,000

Accumulated Depreciation Furniture=$300

Interest Payable=$300

Unearned Service Revenue=$400

Inventory=$3000

  1. Using Excel, prepare a classified balance sheet in account form.
  2. At the bottom of the balance sheet you prepare, answer the following question:
    • What does the completed balance sheet say about the financial health of Cool Beans Company? Explain your reasoning.
    • 10 years ago
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    Yhtomit
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