Prepare a balance sheet for alaskan strawberry corp. as of december 31, 2016, based on the following information: cash = $197,000 patents and copyrights = $863,000 accounts payable = $288,000 accounts receivable = $265,000 tangible net fixed assets = $5,150,000 inventory = $563,000 notes payable = $194,000 accumulated retained earnings = $4,586,000 long-term debt = $1,590,000 you will complete this in a spreadsheet either using microsoft excel or google sheets. submit your spreadsheet here.

See file attached  

Explanation:

The Balance Sheet`s components for Alaskan Strawberry Corp. are recorded and order like this:  

ASSETS:

-Cash

-Accounts receivable

-Inventory

-Tangible net fixed assets

-Patents and copyrights

LIABILITIES:

-Accounts payable

-Notes payable

-Long-term debt

OWNER`S EQUITY

-Common Stock

-Accumulated retained earnings

Accounting Equation Formula

Assets = Liabilities + Owner's Equity

Taking into account the following:

Owner's Equity = Common Stock + Accumulated retained earnings

The formula is completed as follows

Asset = Liabilities + Common Stock + Accumulated retained earnings

Then:

Common Stock = Asset – Liabilities - Accumulated retained earnings

In numbers:

Common Stock = 7,038,000 – 2,072,000 – 4,586,000

Common Stock = 380,000

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