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Assign Correct values to balance. I need to find retained earnings, total stockholder equity, and total liabilities/stockholder equity. I have tried to do Service Revenue
Assign Correct values to balance. I need to find retained earnings, total stockholder equity, and total liabilities/stockholder equity. I have tried to do Service Revenue - (Salaries and wages expense + Depreciation Expense) = 42100 - (5200 + 700) = 36200 for retained earnings, but that is not the correct answer. Please Help!!!!!
The following information is available for Sunland Company Accounts receivable $3,400 Cash $6,200 Accounts payable 4,800 Supplies 3,740 Interest payable 520 Une Customize and control Google Chrome Salaries and wages expense 5,200 Service revenue Notes payable 32,500 Salaries and wages payable 800 Common stock 50,600 Depreciation expense 700 Inventory 2,900 Equipment (net) 110,500 42,100 Using the information above, prepare a balance sheet as of December 31, 2022. (List assets in order of liquidity.) Sunland Company Balance Sheet December 31, 2022 Assets Cash 6200 Accounts Receivable 3400 Inventory 2900 Supplies 3740 Equipment 110500 $ Total Assets 126740 Liabilities and Stockholders' Equity Liabilities Accounts Payable $ 4800 Notes Payable 32500 Unearned Service Revenue 860 Interest Payable 520 Salaries and Wages Payable 800 Total Liabilities 39480 Stockholders' Equity Common Stock 50600 Retained Earnings 37060 Total Stockholders' Equity 87430 Total Liabilities and Stockholders' Equity 126910
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