Question

The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018 and 2019. Part 1 of 3 December 31 Cash Accounts receivable Office supplies Office equipment Trucks Building Land Accounts payable Note payable 2018 $ 43,611 23,672 3,734 114,628 44,855 2019 $ 6,629 18,559 2,735 122,100 53,855 149,529 37,314 30,867 86,843 2.5 points 235 eBook Required: 1. Prepare balance sheets for the business as of December 31, 2018 and 2019. Hint: Report only total equity on the balance sheet and remember that total equity equals the difference between assets and liabilities. Print Complete this question by entering your answers in the tabs below. Balance Sheet Balance Sheet 2018 2019 Prepare the balance sheet for the business as of December 31, 2018. Hint: Report only total equity on the balance sheet and remember that total equity equals the difference between assets and liabilities. NETTLE DISTRIBUTION Balance Sheet December 31, 2018 Liabilities Assets Equity Total equity Total liabilities and equity Total assets Balance Sheet 2018 Balance Sheet 2019 >

Answer 1

NETTLE DISTRIBUTION Balance Sheet December 31, 2018 Liabilities Assets 43,611 Accounts payable Cash 62,235 Accounts receivable Office supplies Office equipment 23,672 3,734 Total liabilities 62,235 Equity 44,855 Total equity 230,500 Total liabilities and equity 114,628 Trucks 168,265 Total assets 230,500

NETTLE DISTRIBUTION Balance Sheet December 31, 2019 Liabilities Assets 6,629 Accounts payable 18,559 Note payable 2,735 Total liabilities Cash 30,867 Accounts receivable Office supplies Office equipment 86,843 117,710 122,100 Equity 53,855 Total equity Trucks 273,011 Building 149,529 Land 37,314 Total assets 390,721 Total liabilities and equity 390,721

2018 2019 Total Assets (a) Total Liabilities (b) $ 62,235 Total equity (a - b) $168,265 $ 230,500 $ 390,721 $ 117,710 $273,011