Question

Assume the Davis Coffee Roasters Corp. ended the month of August 2019 with these data: : (Click the icon to view the financial data.) Read the requirement First prepare the balance sheet header, then complete the assets section of the statement. Finally, complete the liabilities and stockholders' equity section of the statement. (Do not classify the balance sheet into current and long-term sections. In the first part complete the assets section of the balance sheet. In the second part complete the liabilities and stockholders' equity section of the balance sheet. If a box is not used in the balance sheet, leave the box empty, do not select a label or enter a zero.) Data Table - X 0 5,800 Payments of cash: Acquisition of equipment ................... $ 204,400 Cash balance, August 1, 2019...............$ Dividends ... 2,400 Cash balance, August 31, 2019......... Retained earnings Cash receipts: August 1, 2019 0 Issuance (sale) of stock to owners .... Retained earnings Rent expense. August 31, 2019 185,300 Common stock .......... Utilities expense 5,200 Equipment Adjustments to reconcile net income Office supplies to net cash provided by operations 1,000 Accounts payable......... Salary expense 78.800 Service revenue.... 23,900 1,400 23,900 204,400 7,500 8,500 273,100 Choose from any drop-down list and then click Check Answer.

Answer 1

Balance Sheet:

Davis Coffee Roaster Corp.
Balance Sheet
As of August 31,2019
Assets		Liabilities and stockholder's equity
Current Assets:		Current liabilities:
Cash	$5,800	Accounts payable	$8,500
Office supplies	$7,500
		Stockholders' equity:
Property,plant,and equipment:		Common stock	$23,900
Equipment	$204,400	Retained earnings	$185,300
Total Assets	$217,700		$217,700