1. Prepare a classified balance sheet from T accounts. ? REVIEW VIEW Sign In Preparing a classified balance sheet - Excel FILE HOME INSERT PAGE LAYOUT FORMULAS DATA 86 Calibri 11 A A % Paste RU Clipboard BIU Al Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Styles The following transactions occurred for Lantana Company during its first month Font x B C DEF G The following transactions occurred for Lantana Company during its first month of operations 2 and have been recorded in the T-accounts below. 3 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). H I 8 9 10 11 a. Cash 50,000 12 13 Supplies 5,000 b. c 10,000 d. 900 500 14 bal 34.500 bal. 900 15 16 Land 17 b. 18 20,000 Equipment d. 10,000 19 h 20 000 hal 16000