5 - Preparing a classified balance sheet - Excel ? 3 FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In X Calibri - 11 AN % Paste BIU A Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Clipboard Font Styles 1 The following transactions occurred for Lantana Company during its first month B DEF 0 H 1 1 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 Received 550.000 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 8900 of supplies on account. 7 d. Purchased $10,000 of equipment, paying cash. 8. c. Paid S500 on account for supplies purchased in transaction (c). 9 10 Cash Supplies 50,000 5,000 b. C. 900 12 10,000 d. 13 SOO 14 bal 34,500 bal. 900 15 16 Land Equipment 17 b. 20,000 d. 10,000 13 19 hal 20.00 hal 10.000 HOME INSERT X -111 - STU- kom Preparing a classified balance shoot - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign in M Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Styles The following transactions occurred for Lantana Company during its first month DEF G H 1 Supplies 5.000 b. 900 10,000 d. 500 c. bal. 900 Al 10 11 Cash 50.000 c. 13 34,500 Land 20,000 Equipment 10.000 d 15 16 17 h 18 19 bal 30 21 20,000 bal. 10,000 Note Payable Accounts Payable 500 900 15,000 b. 24 400 bal. 15,000 bal. 25 26 Common Stock 50,000 . 5 FILE HOME INSERT Cui -10 Preparing a classified balance sheet - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign in ' ' % M A Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Styles The following transactions occurred for Lantana Company during its first month Putte Font AI x H 1 D 0 B E F d. 10,000 20.000 bal. 10.000 20.000 19 bal. Note Payable 21 22 Accounts Payable SOO 15,000 b. 900 c. 15,000 bal. = = = = = = = = 24 400 bal. Common Stock 27 50.000 a. 28 50.000 bal. SO 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 Tarunt halanove and formule in ramleta molumner and H Der Ionoterm care in ninhnhericol der ? . -- QH Preparing a classified balance sheet - Excel DATA REVIEW VIEW FILE FORMULAS Sign In HOME INSERT PAGE LAYOUT X - 11 Paste BTU- - A A M A Alignment Number Conditional Format as Cell Cells Editing Formatting" Table Styles Styles The following transactions occurred for Lantana Company during its first month Cipboard Font AL X 1 D E F G H Liabilities and Stockholders' Equity Current Liabilities Total Current Liabilities Long-term Liabilities B 10 Assets 41 Current Assets 42 43 44 Total Current Assets 45 46 Long-term Assets 47 48 40 Total Long-term Assets SO 31 52 53 54 55 56 57 Total Assets 58 59 60 61 Total Long-term Liabilities Total Liabilities Stockholders' Equity 0 Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Sheet