1 answer

****** Please read ******* I need to fill this in with a formula I know the...

Question:

****** 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 occurr

Al The following transactions occurred for Lantana Company during its first month DEF Note Payable Accounts Payable 500 900 c

A1 The following transactions occurred for Lantana Company during its first month ДА DEF 31 Required: 32 Using the T-account

A1 The following transactions occurred for Lantana Company during its first month A н 40 Assets DEF Liabilities and Stockhold

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

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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