The preparation of a Balance Sheet for Rosebud Motel as of July 26, 2022, is as follows:
Rosebud Motel
Balance Sheet
As of July 26, 2022
Assets
Current Assets:
Cash                       $17,000
Office Supplies                2,095
Accounts Receivable            8,215
Total current assets           $27,310
Long-term Assets:
Equipment      $29,900
Building         141,000     $170,900
Total assets                $198,210
Liabilities
Current Liabilities:
Elmdale Cleaning Ltd. Â Â Â Â Â Â Â Â $4,600
Staple Supply Co. Â Â Â Â Â Â Â Â Â Â Â Â Â 1,150
Total current liabilites        $5,750  Â
Long-term Liabilities:
Mortgage Payable $74,000
Bank Loan         16,230   90,230
Total liabilities             $95,980
Owner's Equity           $102,230 ($198,210 - $95,980
Total liabilities and equity   $198,210
What is the balance sheet?
The balance sheet is a financial statement that shows the financial position of an entity.
The balance sheet shows that the assets are equal to liabilities and equity.
Learn more about preparing balance sheets at https://brainly.com/question/1113933
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