Who here can help me with accounting homework i need help!!!!?

Question

Cash.............$1,950
account rec.....$2500
supplies..........$1800
equipment.......$11275
acct payable.....$3450
wage payable.... $250
dividends paid.....$1500
capital stock..... $775
retained earning... jan 1, 2006....$12000
revenues........... $10000
miscellaneous expense..........$1550
supplies expense..................$3700
wages expense...................$2200

Required
1 prepare a classified balance sheet as of Dec 31 2006.
2 Interpretive question: on the basis of it 2006 earnings was this company's decision to pay dividends of $1500 a sound one?

can you guy explain how you get the answer please i really need help badly!!!!!!!!!!!!!!!!!!1

Answer 1

I'm taking a similar accounting class right now. Its thru the local JC, but entirely online (read the book, go online and do all the exercises, and then take the quiz.)

I can tell you that if you don't figure this out yourself, you're in deep trouble in the class. It takes a while to get it, but after you go through this kind of exersice a few times, you'll get it.