Yang Company reported the following balance sheet for the end of 2012:
During 2013, Yang reported the following transactions:
• Repaid $8,000 to a local bank on a note payable
• Provided services to clients for $26,400 cash
• Paid operating expenses of $19,200
• Paid $3,500 cash dividends to stockholders
Required:
Prepare Yang Company's balance sheet as of December 31, 2013.

Question

Yang Company reported the following balance sheet for the end of 2012:  
During 2013, Yang reported the following transactions:
• Repaid $8,000 to a local bank on a note payable
• Provided services to clients for $26,400 cash
• Paid operating expenses of $19,200
• Paid $3,500 cash dividends to stockholders
Required:
Prepare Yang Company's balance sheet as of December 31, 2013.

Quizplus · Accepted Answer

The Answer of Yang Company reported the following balance sheet for the end of 2012:  
During 2013, Yang reported the following transactions:
• Repaid $8,000 to a local bank on a note payable
• Provided services to clients for $26,400 cash
• Paid operating expenses of $19,200
• Paid $3,500 cash dividends to stockholders
Required:
Prepare Yang Company's balance sheet as of December 31, 2013.

Yang Company Reported the Following Balance Sheet for the End