Balance sheet preparation
P2. Balance sheet preparation Use the appropriate items from the following list to prepare in good form Owen Davis Company’s balance sheet at December 31, 2009.
|Item||Value ($000) at December 31, 2009||Item||Value ($000) at December 31, 2009|
|Accounts payable||$ 220||Inventories||$ 375|
|Common stock (at par)||90||Paid-in capital in excess of par||360|
|Cost of goods sold||2,500|
|Depreciation expense||45||Preferred stock||100|
|Furniture and fixtures||170||Sales revenue||3,600|
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