Question

The accounting records for Baby's Place, Inc., reflected the following amounts at the end of December 2018 (Click the icon to view the accounts.) Prepare the classified balance sheet for Baby's Place, Inc., at December 31, 2018. Use the report format Begin by preparing the heading and completing the assets section of the balance sheet. Next, complete the liabilities and stockholders' equity sections of the statement Baby's Place, Inc. Balance Sheet December 31, 2018 Assets Current Assets Liabilities Current Liabilities Choose from any list or enter any number in the input Nields and then continue to the next question

Answer 1

Answer
Baby's place, Inc. Balance sheet January 31,2018
Particulars	Amounts
Assets
Current Assets:
Cash	$   3,100
Inventory	$   3,500
Accounts receivable	$   3,400
Prepaid rent	$   1,900
Estimated inventory returns	$      400
Total current assets	$ 12,300
Property plant and equipment
Equipment, net	$ 24,100
Total Assets	$ 36,400
Liabilities
Current liabilities:
Accounts payable	$   4,800
Estimated refund liability	$      700
Salaries payable	$   1,200
Accrued liabilities	$   1,800
Total current liabilities	$   8,500
Long term notes payable	$ 15,000
Total Liabilities	$ 23,500
Stockholder's equity
Total Stockholder's equity	$ 12,900
Total Stockholder's equity and liabilities	$ 36,400