ACC 560 MART Motivated Minds/acc560mart.com ACC 560 MART Motivated Minds/acc560mart.com | Page 71

FRIZELL COMPANY
Balance Sheets
December 31
Cash
30,000
2017 2016
$ 15,000 $
Accounts receivable (net)
60,000 70,000
Inventory
50,000 60,000
Plant assets (net)
180,000 200,000
$345,000
$320,000
Accounts payable
60,000
$ 50,000
Mortgage payable (6%)
100,000
Common stock, $10 par
120,000
Retained earnings
40,000
$
100,000
140,000
55,000