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