Exercise Account (170)

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4-23
EXERCISE 4-14
(a) KARR BOWLING ALLEY
Balance Sheet
December 31, 2008
 
Assets
Current assets
Cash ..................................................... $ 18,040
Accounts receivable ....................... 14,520
Prepaid insurance............................ 4,680
Total current assets ............... 37,240
Property, plant, and equipment
Land...................................................... $64,000
Building............................................... $128,800
Less: Acc. depr.—building .......... 42,600 86,200
Equipment .......................................... 62,400
Less: Acc. depr.—equipment ..... 18,720 43,680 193,880
Total assets............................... $231,120