Asked by Marlee Joudrey on Apr 28, 2024
Verified
Complete the following balance sheet by entering the appropriate amounts in the blanks provided.
Balance Sheet
An accounting record that outlines a business's assets, obligations, and equity of shareholders at a designated time.
- Identify the financial transactions that alter the financial statements and their influence on designated ratios.
- Determine and grasp the elements of stockholders' equity and the effects of business activities on these components.
Verified Answer
ND
Nessim DerkaMay 02, 2024
Final Answer :
A.$40,000.($90,000 Total Assets (F)- $35,000 Book Value of Building - $15,000 Cash)
B.$25,000.($60,000 Building - $35,000 Book Value)
C.$90,000.(Must equal to F. )
D.$2,000.($25,000 Current liabilities - $11,000 Accounts Payable - $12,000 Notes payable)
E.$40,000.($25,000 Common stock + $15,000 Retained earnings)
F.$90,000.($50,000 Total Liabilities + $40,000 Total Stockholders' Equity)
B.$25,000.($60,000 Building - $35,000 Book Value)
C.$90,000.(Must equal to F. )
D.$2,000.($25,000 Current liabilities - $11,000 Accounts Payable - $12,000 Notes payable)
E.$40,000.($25,000 Common stock + $15,000 Retained earnings)
F.$90,000.($50,000 Total Liabilities + $40,000 Total Stockholders' Equity)
Learning Objectives
- Identify the financial transactions that alter the financial statements and their influence on designated ratios.
- Determine and grasp the elements of stockholders' equity and the effects of business activities on these components.
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