Balance sheet (Forecasted)
Assets | |
Cash | 2250 |
Account receivable | 1790 |
Building and equipment | 71000 |
Total Assets | 75040 |
Liabilities | |
Account payable | 4670 |
Notes payable | 38970 |
Total liabilities | 43640 |
Stockholder's equity | |
Common Stock | 30000 |
Retained earnings | 1400 |
Total Stockholder's equity | 31400 |
Total liabilities and stockholder's equity | 75040 |
Nicole Mackisey is thinking of forming her own spa business, Nicole's Getaway Spa (NGS), Nicole expects...
Nicole Mackisey is thinking of forming her own spa business, Nicole's Getaway Spa (NGS). Nicole expects that she and two family members will each contribute $11,500 to the business and receive 1,150 shares each. Nicole forecasts the following amounts for the first year of operations, ending December 31, 2017: cash on hand and in the bank, $2,430; amounts due from customers from spa treatments, $2,380; building and equipment, $84,435; amounts owed to beauty supply outlets for spa equipment, $8,050; notes...
Nicole Mackisey is thinking of forming her own spa business, Nicole's Getaway Spa (NGS). Nicole expects that she and two family members will each contribute $6,500 to the business and receive 650 shares each. Nicole forecasts the following amounts for the first year of operations, ending December 31, 2017: cash on hand and in the bank, $3,030; amounts due from customers from spa treatments, $1,230; building and equipment, $94,525; amounts owed to beauty supply outlets for spa equipment, $5,750; notes...
Required Information The following information apples to the questions displayed below.] Nicole Mackisey is thinking of forming her own spa business, Nicole's Getaway Spa (NGS). Nicole expects that she and two family members will each contribute $10,000 to the business and receive 1,000 shares each. Nicole forecasts the following amounts for the first year of operations, ending December 31, 2018: Cash on hand and in the bank, $2,250: amounts due from customers from spa treatments, $1,790, building and equipment. $71,000,...
amework 0 Required Information The following information applies to the questions displayed below) Nicole Mackisey is thinking of forming her own spa business, Nicole's Getaway Spa (NGS), Nicole expects that she and two family members will each contribute $10,000 to the business and receive 1,000 shares each. Nicole forecasts the wing amounts for the first year of operations, ending December 31, 2018: Cash on hand and in the bank. 52.250. amounts due from customers from spa treatments. $1,790: building and...
CC1-1 Financial Statements for a Business Plan (LO2, LO3] Nicole Mackisey is thinking of forming her own spa business, Nicole's Getaway Spa (NGS). Nicole expects that she and two family members will each contribute $5,000 to the business and receive 500 shares each. Nicole forecasts the following amounts for the first year of operations, ending December 31, 2017. cash on hand and in the bank, $3,690: amounts due from customers from spa treatments, $2.220, building and equipment, $89,360: amounts owed...
The following information applies to the questions displayed below) Nicole Mackisey is thinking of forming her own spa business, Nicole's Getaway Spa (NGS), Nicole expects that she and two family members will each contribute $10,000 to the business and receive 1000 shares each. Nicole forecasts the following amounts for the first year of operations, ending December 31, 2018: Cash on hand and in the bank, $3 250, amounts due from customers from spa treatments, $1,890, building and equipment, $72,000, amounts...
my balance sheet is off by 27000
Required information CC1-1 Financial Statements for a Business Plan (LO 1-2, LO 1-3] [The following information applies to the questions displayed below.] Nicole Mackisey is thinking of forming her own spa business, Nicole's Getaway Spa (NGS). Nicole expects that she and two family members will each contribute $10,000 to the business and receive 1,000 shares each. Nicole forecasts the following amounts for the first year of operations, ending December 31, 2018: Cash on...
Nicole has decided that she is going to start her business, Nicole's Getaway Spa (NGS). A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30. a. Received $96,000 cash when issuing 9,600 new common shares. b. Purchased land by paying $7,500 cash and signing a note payable for $11.500 due in three years. c. Hired a new aesthetician for a salary of $2,600 a month, starting next month....
Nicole's Getaway Spa (NGS) has been so successful that Nicole has
decided to expand her spa by selling merchandise. She sells things
such as nail polish, at-home spa kits, cosmetics, and aromatherapy
items. Nicole uses a perpetual inventory system and is starting to
realize all of the work that is created when inventory is involved
in a business. The following transactions were selected from among
those completed by NGS in August.
Aug.
2
Sold a bundle of spa services with...
The following information applies to the questions displayed below.) Nicole has been financing Nicole's Getaway Spa (NGS) using equity financing. Currently NGS has authorized 100,000 no-par preferred shares and 200,000 $2 par common shares. Outstanding shares Include 46,000 preferred shares and 36,000 common shares. Recently the following transactions have taken place. a. NGS Issues 800 preferred shares for $13 a share. b. NGS repurchases 800 common shares for $12 a share. c. On November 12, the board of directors declares...