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 43. Received $50,000 cash from Lantana, the sole proprietor. 52. Purchased land for $20,000, paid $5,000 in cash and signed a 2-year note for the remainder. 6: Bought $900 of supplies on account. 73. Purchased $10,000 of equipment, paying cash. 8. Paid $500 on account for supplies purchased in transaction (c). 9 10 11 3. 2939959933228 12 13 14 bal. 15 16 17 3. 18 19 bal. 20 21 22 a READY Attempt(s) Cash 50,000 34.500 Land 20,000 20.000 Sheet1 Accounts Payable 500 www 5,000 b. C. 10,000 d. 500 e. 900 C. bal. d. bal. Supplies 900 900 Equipment 10,000 10.000 Note Payable O L 15,000 b. A 1 100% Hint pok nt ences Paste A1 495998222222222 Clipboard G 15 16 FILE 18 17 0. 20 19 pal. 21 22 23 26 A S 27 HOME READY Attempt(s) Calibri INSERT BIU- B 1 - 11 T A A M Font x Land 20,000 Sheet1 20,000 PAGE LAYOUT Accounts Payable 500 Lantana, Capital C Preparing a classified balance sheet - Excel FORMULAS DATA REVIEW G % Alignment Number DEF 900 C. Conditional Format as Cell Cells Formatting Table Styles Styles fix The following transactions occurred for Lantana Company during its first month Y 400 bal. 50,000 a. 50,000 bal. d. bal. G LANTANA COMPANY Balance Sheet VIEW 4 Equipment 10,000 10.000 Note Payable 30 31 Required: 32 Using the T-account BALANCES and the information in the transactions, 33 prepare a classified balance sheet for Lantana Company. 34 Vote: 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. 36 37 2.8 8 ? H H Editing El 1 15,000 b. G Sign In 15.000 bal. X 4 Hint M 100% < Prev 2 of 3 www ts Book Print ferences Paste A1 SANH0685 a $ w500 000 Clipboard G 36 37 38 39 40 42 43 FILE 48 41 Current Assets 51 S 52 . A 53 54 HOME 55 44 Total Current Assets 45 46 Long-term Assets 47 Calibri BIU B G 35 T-account balances and formulas to complete columns C and H. List long-term assets in alphabetical order. INSERT 49 Total Long-term Assets READY Attempt(s) I 56 Total Assets 57 58 T Font Sheet1 11 Assets PAGE LAYOUT A A G Preparing a classified balance sheet - Excel FORMULAS DATA REVIEW Alignment Number Cell Conditional Format as Formatting Table Styles Styles LANTANA COMPANY Balance Sheet At December 31, 2016 Current Liabilities Total Current Liabilities VIEW The following transactions occurred for Lantana Company during its first month V Long-term Liabilities Liabilities and Equity Total Long-term Liabilities Total Liabilities Owner's Equity Total Owner's Equity Total Liabilities and Equity Cells Editing ? 8 H 3 I Sign In 1 X A 4 4 100% Hint