# Need to complete the balance sheet Required information [The following information applies to the questions displayed...

###### Question:

need to complete the balance sheet

Required information [The following information applies to the questions displayed below.) The following transactions apply to Jova Company for Year 1, the first year of operation: 1. Issued $13,500 of common stock for cash. 2. Recognized$68,500 of service revenue earned on account. 3. Collected $60,800 from accounts receivable. 4. Paid operating expenses of$35,600. 5. Adjusted accounts to recognize uncollectible accounts expense. Jova uses the allowance method of accounting for uncollectible accounts and estimates that uncollectible accounts expense will be 2 percent of sales on account.
Complete this question by entering your answers in the tabs below. Reg D1 Inc Reg D1 Stmt Stmt of Changes Req D1 Bal Reg D1 Stmt Sheet of Cash Flows Prepare the balance sheet for Year 1. JOVA COMPANY Balance Sheet As of December 31, Year 1 Assets Cash Accounts receivable Less: Allowance for doubtful accounts Total assets Liabilities Stockholders' equity Common stock Retained earnings 0 $0 0 Total stockholders' equity Total liabilities and stockholders' equity$ 0

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