Question

Financial Accounting myBusiness Course Business Course # Return to course Statement of Stockholders' Equity and Balance Sheet The following is balance sheet information for Tuttle Janitorial Service, Inc., at the end of 2019 and 2018: December 31, December 31, 2019 2018 Accounts Payable $6,000 $9,000 Cash 25,000 22,000 Accounts Receivable 39,000 31,000 Land 56,000 46,000 Building, net 250,000 260,000 Equipment, net 44,000 46,000 Mortgage Payable 93,000 88,000 Supplies 18,000 16,000 Common Stock 225,000 225,000 Dividends 12,000 Retained Earnings Q W E R T Y U

Answer 1

Dec 31, 2018 22,000 31,000 16,000 46,000 260,000 46,000 421,000 Balance sheet Assets Dec. 31, 2019 Cash 25,000 Accounts receivable 39,000 Supplies 18,000 Land 56,000 Building, net 250,000 Equipment, net 44,000 Total assets 432,000 Liabilities Accounts payable 6,000 Mortgage payable 93,000 Total liabilities 99,000 Stockholders' equity Common stock 225,000 Retained earnings 108,000 Total stockholders' equity 333,000 Total liabilities and stockholders' equity 432,000 9,000 88,000 97,000 225,000 99,000 324,000 421,000

Statement of stockholders' equity Common stock Retained earnings Total Balance, December 31, 2018 225,000 99,000 324,000 Add: Net income for 2019 21,000 21,000 Less: Dividends for 2019 (Enter as negative) -12,000 -12,000 Balance, December 31, 2019 225,000 108,000 333,000