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Aderonke Esther Tella
March 19, 2015
Ocean Explorers has provided you with a list of their Balance Sheet accounts in alphabetical order related to December 31, 2014.
December 31, 2014
Current Assets Current Liabilities
Accounts Receivable $ 28,600 Account Payable $ 31,400
Cash 45,000 Unearned Revenue 28,000
Inventory 43,000 Wages and salaries payable 4,050
Allowance for Doubtful Account 25,800 Total 63,450
Prepaid Insurance 6,800
Total 120,600 Long-term Liabilities
Notes Payables 360,000
Property, Plants and Equipment Total 360,000
Equipment 75,000 Total Liabilities 423,450
Less: Accum. Depreciation (239000)
Total 760,000 Stockholders’ Equity
Common Stock 665,000
Other Long-Term Assets Retained Earnings 356,150
Copyright 25,000 Total 1,021,150
Mineral Reserves 400,000
Total Assets 1,444,600 Total liabilities
& Stockholders’ Equity1,444,600