Question

? - 6 X Sign In KD 9.. Preparing a classified balance sheet - Excel FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calibri - 11AA = % D D BIU- B A Alignment Number Conditional Format as Cell Formatting Table Styles Clipboard Styles Paste Cells - Editing Font A1 The following transactions occurred for Lantana Company during its first month DEF 4 . Received $50.000 cash from owners in exchange for common stock 5 6. Purchased land for $20.000, paid $5,000 in cash and signed a 2-year note for the remainder. 6 c. Bought 5900 of supplies on account. 7 d. Purchased $10,000 of equipment, paying cash. 8. Paid $500 on account for supplies purchased in transaction (c). 11 a. Cash 50,000 Supplies 9001 5,000 10,000 500 b. d. e. 14 bal. 34,500 < Prev 7 of 9 !!! Next > MacBook Air

Answer 1

MALTANA COMPANY Balance sheet At 3 recember 2016 liabilities Assets and stock holder's Equity Amount Amount / C$) Current Assets Cash. supplies 34,500 9,00 4,00 4,00 Total Current Assets Current liabilities Account Payable Total current liabilities long-term liabilities Long-team notes Payable Total long-term liab. Toted liabilities 15.000 15.000 15,400 Long-term Assets Land Equipment Total long term Assets 20,000 10,000 50,000 stockholder's Eauity Common stock Retained Camis To teel stockholder's - Eauity Total liabilities and stock holder's Equity soooo 1 Tofal Assets 65,400 165, 400