Presented below is the balance sheet for Sabino Family Dentistry on January 1 of the current year.
SABINO FAMILY DENTISTRY
Balance Sheet
January 1, 20__
Assets | Liabilities & Stockholders’ Equity | ||
Cash Accounts receivable Land Building Equipment Total assets | $ 33,000 `51,150 313,500 371,250 57,750 $826,650 | Liabilities: Accounts payable Total liabilities |
|
$ 74,250 $ 74,250 | |||
Owners’ equity: Capital stock |
| ||
752,400 | |||
Total liabilities and owners’ equity | $826,250 |
During the first few days of January, the following transactions occurred:
Jan 1 The business borrowed $99,000 from the bank, giving a note payable due in 90 days.
3 Additional capital stock was issued in exchange for $44,550 cash.
3 Equipment was purchased for $62,700 on credit.
5 The business collected $26,400 of its accounts receivable and paid off $37,950 of its accounts payable.
Indicate your answer to each of the following questions in the space provided.
5 On January 6, the cash balance is:
a $127,050.
b $138,600.
c $165,000.
d $202,950
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.