Comprehensive Problem Chapters 1-5: Bearing, Inc. from Albretch Accounting Concepts and Applications 11th Edition

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Bearing, Inc.
Balance Sheet
December 31, 2011
Assets
Cash	22,100
Accounts receivable	27,000
Inventory	13,500
Supplies	600
Total assets		63,200
Liabilities and Stockholders' Equity
Accounts payable	17,000
Salaries payable	3,500
Income taxes payable	3,200
Total liabilities		23,700
Stockholders' equity
Capital stock (10,000 shares outstanding)	20,000
Retained earnings	19,500
Total stockholders' equity		39,500
Total liabilities and stockholders' equity		63,200