Question

X! Preparing a classified balance sheet - Excel х FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 Α Α΄ % Paste BIU- Alignment Number Cells Conditional Format as Cell Formatting Table Styles Styles Clipboard Font 1 : A B с I 37 38 D E F G H LANTANA COMPANY Balance Sheet At December 31, 2016 Liabilities and Stockholders' Equity Current Liabilities 39 40 Assets 41 Current Assets 42 Total Current Liabilities 43 44 Total Current Assets 45 46 Long-term Assets 47 Long-term Liabilities 48 49 Total Long-term Assets Total Long-term Liabilities Total Liabilities 50 51 52 Stockholders' Equity 53 54 0 55 Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 56 57 Total Assets 58 59 60 Sheet1 READY 100% Attempt(s) Hint

Answer 1

Requirement Balance Sheet $ $ Assets Current Assets : - Cash - Supplies Total Current Assets Lantana Company Balance Sheet At December 31, 2016 $ Liabilities and Stockholders' Equity Current Liabilities : 34,500 - Accounts Payable 900 35,400 Total Current Liabilities $ 400 AAA $ 400 $ 15,000 Long-Term Assets : - Land - Equipment Total Long-Term Assets $ $ $ Long-Term Liabilities : 20,000 - Notes Payable 10,000 30,000 Total Long-Term Liabilities $ 15,000 Total Liabilities $ 15,400 $ $ 50,000 Stockholders' Equity : - Common Stock - Retained Earnings Total Stockholders' Equity $ 50,000 Total Assets $ 65,400 Total Liabilities & Stockholders' Equity $ 65,400