Ch. 16.3 Application Problem
Review of Balance Sheets
Part 1 Instructions – Answer the questions below based on your understanding of completing a balance
sheet.
1
Part 2 Instructions – Complete the following table by placing an ‘x’ in the appropriate box. Only one ‘x’
may be written for each account.
Account
Current Assets
Plant Assets
Current
Liabilities
Accounts
Payable
Prepaid
Insurance
Capital Stock
Cash
Office
Equipment
Retained
Earnings
Store
Equipment
Accounts
Receivable
Dividends
Payable
Interest
Income
2
Long-Term
Liabilities
Stockholders’
Equity
Not on Balance
Sheet
Part 3 Instructions – Using the given adjusted trial balance and statement of stockholder’s equity,
complete the asset section of the balance sheet.
3
Part 4 Instructions – Using the given adjusted trial balance and statement of stockholder’s equity,
complete the liabilities and equity section of the balance sheet.
4
5
6