Notes Payable

  60,000

Bottle Inventory

 195,000

During the month of November the following transactions occurred:

Accounts Receivable for $16,000 was collected.

Wages due of $15,000 were paid out in cash.

$175,000 in Equipment was purchased on credit ($100 was due on delivery and was paid in cash).

Their land was appraised and found to be worth $560,000.

A stakeholder, Bruce Wayne, provided the company with equipment and in return received $65,000 in shares.

$300,000 in shares was retired for bonds payable on December 15, 2025.

Bottle Processing Patent Fees were paid completely out on Credit.

$175,000 in Old Bottles was returned to the former supplier for their cash value.

A bank loan for $65,000 was taken out. The amount was kept in cash over the end of the month.

Required:

Create a Balance Sheet for November 30th assuming no other transactions occurred for the month other than those noted above.

1-Conversion to Canadian Balance Sheet and T-Accounts (17 marks)

2- Final Balance Sheet (23 Marks)