Question

hent 0 Saved S.S. N:- Relationships among Financial Statements - Excel ? - 6 X FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In anction Defined brary Names Formula Auditing Calculate Now Calculation on La Calculate Sheet + Options Calculation A1 Presented below are incomplete financial statements for Marta Communications, as MARTA COMMUNICATIONS, INC. Statement of Stockholders' Equity For the Month Ended March 31, 20X1 Common Stock Retained Earnings $0 $14,000 Total SO SO 13 Beginning Balance (March 1, 20X1) 4 Issuance of common stock 15 Add: Net income for March 16 Less: Dividends 17 Ending Balance (March 31, 20X1) $14,000 4,100 (500) $17,600 (500) $14,000 MARTA COMMUNICATIONS, INC. Balance Sheet At March 31, 20X1 Liabilities $3,400 Accounts payable Stockholders' Equity 2,300 Common stock 12,000 Retained earnings Total Liabilities and Stockholders' Equity 32 Assets 33 Cash 34 Accounts receivable 35 Supplies 36 Land 37 Total Assets $6,800 14,000

Answer 1

1. Statement of stockholders' Equity:

MARTA COMMUNICATIONS, INC.
Statement of Stockholders' Equity
For the Month Ended March 31,20X1
	Common stock	Retained Earnings	Total
Beginning Balance (March, 1 20X1)	$0	$0	$0
Issuance of common stock	$14,000		$14,000
Add: Net income for March		$4,100	$4,100
Less: Dividends		($500)	($500)
Ending Balance (March 31, 20X1)	$14,000	$3,600	$17,600

2. Balance Sheet:

MARTA COMMUNICATIONS, INC.
Balance Sheet
At March 31, 20X1
Assets		Liabilities
Cash	$3,400	Accounts payable	$6,800
Accounts receivable*	$6,700	Stockholders' Equity
Supplies	$2,300	Common stock	$14,000
Land	$12,000	Retained earnings (from above statement)	$3,600
Total Assets	$24,400	Total liabilities and stockholders' Equity	$24,400

*Calculations:

Total liabilities and stockholders' equity = Total assets

Total assets = $24,400

Total Assets = Cash + Accounts receivable + Supplies + Land

$24,400 = $3,400+ Accounts receivable + $2,300 +$12,000

Accounts receivable = $24,400-$3,400-$2,300-$12,000

Accounts receivable = $6,700