****** Please read ******* I need to fill this in with a formula I know the answer I just don't know how to plug it in with a formula using excel. A1 The following transactions occurred for Lantana Company during its first month H D E F 1 The following transactions occurred for Lantana Company during its first month of operations 2 and have been recorded in the T-accounts below. 4 a. Received $50,000 cash from owners in exchange for common stock. 5 b. Purchased land for $20,000, paid $5,000 in cash and signed a 2-year note for the remainder. 6 c. Bought $900 of supplies on account. 7 d. Purchased $10,000 of equipment, paying cash. e. Paid $500 on account for supplies purchased in transaction (c). Supplies Cash 50,000 900 5,000 10,000 500 b. d. e. 34,500 900 Land 20,000 Equipment 10,000 20,000 10.000 Note Payable Accounts Payable 500 900 C. 15,000 b. non bal 1r nan Lal Al The following transactions occurred for Lantana Company during its first month DEF Note Payable Accounts Payable 500 900 c. 15,000 b. 400 bal. 15,000 bal. Common Stock 50,000 a. 50,000 bal. 31 Required: 32 Using the T-account BALANCES and the information in the transactions, 33 prepare a classified balance sheet for Lantana Company. 34 Note: Use cell references to the T-account titles to complete columns B and G. Use cell references to the 35 T-account balances and formulas to complete columns C and H. List long-term assets in alphabetical order. LANTANA COMPANY Balance Sheet At December 31, 2016 Liabilities and Stockholders' Equity Current Liabilities Assets 41 Current Assets A1 The following transactions occurred for Lantana Company during its first month ДА DEF 31 Required: 32 Using the T-account BALANCES and the information in the transactions, 33 prepare a classified balance sheet for Lantana Company. Note: Use cell references to the T-account titles to complete columns B and G. Use cell references to the 35 T-account balances and formulas to complete columns C and H. List long-term assets in alphabetical order. LANTANA COMPANY Balance Sheet At December 31, 2016 Liabilities and Stockholders' Equity Current Liabilities Assets 41 Current Assets Total Current Assets Total Current Liabilities 45 46 Long-term Assets Long-term Liabilities Total Long-term Assets Total Long-term Liabilities Total Liabilities Stockholders' Equity Retained Earnings A1 The following transactions occurred for Lantana Company during its first month A н 40 Assets DEF Liabilities and Stockholders' Equity Current Liabilities 41 Current Assets Total Current Assets Total Current Liabilities 46 Long-term Assets Long-term Liabilities Total Long-term Assets Total Long-term Liabilities Total Liabilities Stockholders' Equity Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 57 Total Assets Sheet1 0

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Price range: 10000

Lantana Company Balance Sheet At Dec 31, 2016 assets amount ($) liabilities and stockholders equity amount ($) current assets current liabilities cash 34500 accounts payable 400 supplies 900 total current liabilities 400 total current assets 35400 long-term liabilities long-term assets notes payable 15000 equipment 10000 total long-term liabilities 15000 land 20000 stockholders equity total long-term assets 30000 common stock 50000 total stockholers equity 50000 total assets 65400 total liabilities and stockholders equity 65400 .

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Lantana Company
Balance Sheet
At Dec 31, 2016
assets	amount ($)	liabilities and stockholders equity	amount ($)
current assets			current liabilities
cash	34500		accounts payable	400
supplies	900		total current liabilities		400
total current assets		35400	long-term liabilities
long-term assets			notes payable	15000
equipment	10000		total long-term liabilities		15000
land	20000		stockholders equity
total long-term assets		30000	common stock	50000
			total stockholers equity		50000
total assets		65400	total liabilities and stockholders equity		65400

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