## Answers

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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