Question

I got the answers wrong. Can someone help me figure out answers please?
At the beginning of 2015, Barth Company reported the following balance sheet. Assets Liabilities Cash $1,200 Accounts Payable $3,000 Accounts Receivable 3,675 Equity Equipment 2,500 Common Stock 11,875 Land 12,500 Retained Earnings 5,000 Total Assets $19,875 Total Liabilities and Equity $19,875 Required a. At the end of 2015, Barth Company reported the following assets and liabilities: Cash, $2,200; Accounts Receivable, $4,600; Equipment, $2,250; Land, $12,500; and Accounts Payable, $1,875. Prepare a year-end balance sheet for Barth. (Hint: Report equity as a single total.) BARTH COMPANY Balance Sheet December 31, 2015 Assets Liabilities Cash $ 1,200 x Accounts Payable $ 3,000 X Accounts Receivable 3,675 x Equipment 2,500 x Equity Land 12,500 Stockholders' Equity 16,875 x Total Assets 19,875 % Total Liabilities and Equity $ 19,875 x b. Assuming that Barth did not issue any common stock during the year but paid $3,000 cash in dividends, what was its net income or net loss for 2015? $ 3,000 X

Answer 1

a.

BARTH COMPANY Balance Sheet December 31, 2015 Assets Liabilities Cash $2,200 Accounts Payable $1,875 Accounts Receivable $4,600 Equipment $2,250 Equity Land $12,500 Stockholders' Equity $19,675 Total Assets $21,550 Total Liabilities and Equity $21,550

b.

c.

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