Answer to Question #182278 in Accounting for azhar khan dawar

Question

Shown below in random order is a list of balance sheet items for Red River Farms at Sent 30, 2001: 

$33,570 

Land ........ Barns and Sheds .......... Notes Payable Accounts Receivable Citrus Trees ......... Accounts Payable ..... Property Taxes Payable .... 

$550,000 

78,300 530,000 22,365 76,650 77,095 9,135 

Fences and Gates Irrigation System Cash Livestock . Farm Machinery .... Hollis Roberts, Capital Wages Payable 

20,125 

16,710 .. 120780 

42,970 

1,820

Answer 1

Make a balance sheet:

We will distribute the items by assets and liabilities, and align the balance sheet with the retained earnings.