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Answered the question but it says its not complete, everything there is correct not sure what I'm missing E2-12 (Algo) Inferring Investing and Financing Transactions
Answered the question but it says its not complete, everything there is correct not sure what I'm missing
E2-12 (Algo) Inferring Investing and Financing Transactions and Preparing a Balance Sheet LO2-4, 2-5 During its first month of operations in March, Volz Cleaning, Inc., completed six transactions with the dollar effects indicated in the following schedule: Ending Balance 1 $51,000 Accounts Cash Investments (short-term) Notes receivable (due in six months) Computer equipment Delivery truck Notes payable (due in 10 years) Common stock (3,000 shares) Additional paid-in capital Dollar Effect of Each of the Six Transactions 2 3 4 5 $(10,000) $(4,900) $(11,000) $ 1,000 $ (6,000) 11,000 (1,000) 4,900 6,000 26,000 16,000 6,000 45,000 Required: 2. Prepare a classified balance sheet for Volz Cleaning, Inc., at the end of March. VOLZ CLEANING, INC. Balance Sheet Assets Liabilities Current assets: Cash $ Liabilities: 20,100 Notes payable 4,900 $ 16,000 Notes receivable Investments 10,000 Total current assets 35,000 16,000 Total liabilities Stockholders' Equity Common stock Additional paid-in capital 6,000 Computer equipment Delivery truck 6,000 26,000 45,000 Total stockholders' equity 67,000 Total liabilities and stockholders' equity 51,000 67,000 Total assets $ $Step by Step Solution
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