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Yang Company Reported the Following Balance Sheet for the End

Question 222

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Yang Company reported the following balance sheet for the end of 2012: Yang Company reported the following balance sheet for the end of 2012: During 2013, Yang reported the following transactions: • Repaid $8,000 to a local bank on a note payable • Provided services to clients for $26,400 cash • Paid operating expenses of $19,200 • Paid $3,500 cash dividends to stockholders Required: Prepare Yang Company's balance sheet as of December 31, 2013.
During 2013, Yang reported the following transactions:
• Repaid $8,000 to a local bank on a note payable
• Provided services to clients for $26,400 cash
• Paid operating expenses of $19,200
• Paid $3,500 cash dividends to stockholders
Required:
Prepare Yang Company's balance sheet as of December 31, 2013.

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Explanation: Ending balances: Cash ($59...

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