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1. Prepare a classified balance sheet from T accounts XB6 Preparing a classified balance sheet - Excel ? FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign in 0 Calibri - 11 - % M Paste BIU- Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles > Clipboard Font B43 fo A B G H DEF 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 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. 8 e. Paid $500 on account for supplies purchased in transaction (c) 9 10 Cash 50,000 Supplies 900 11 a. c. 5,000 10,000 500 b. d. 12 13 e. 34 500 bal. 900 Land 20,000 Equipment 10,000 d. 14 bal 15 16 17 b. 18 19 bal. 20 21 22 e. 23 20.000 bal. 10,000 Accounts Payable 500 Note Payable 900 c. 15,000 b. 100 hal 15.000 hal Sheet1 3 1. Prepare a classified balance sheet from T accounts. ? 3 - Preparing a classified balance sheet - Excel PAGE LAYOUT FORMULAS DATA REVIEW FILE HOME INSERT VIEW Sign In X 22 Calibri - 11 AA M Paste BIU- % Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells Editing Clipboard Font B43 fax bal A B D EF G H I 13 500 e. 14 bal. 34,500 900 15 16 Land Equipment 17 b. 20.000 d. 10,000 18 19 bal. 20.000 bal 10.000 20. 21 Accounts Payable Note Payable 22 e. 500 900 c. 15.000 b. 23 24 400 bal. 15.000 bal. 25 26 Common Stock 27 50,000 a. 28 29 50.000 bal. 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 Note: 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. Sheet1 12 1. Prepare a classified balance sheet from T accounts. KB 5. Preparing a classified balance sheet - Excel ? -- FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In A X Calibri - 11 -A A Paste BIU S. %6 Alignment Number Conditional Format as Cell Formatting" Table Styles Styles Cells Editing Clipboard Font B43 V > DEF H T A B 36 37 38 39 40 41 Current Assets 42 Cash LANTANA COMPANY Balance Sheet At December 31, 2016 Liabilities and Stockholders' Equity Current Liabilities Assets Total Current Liabilities Long-term Liabilities Total Long-term Liabilities Total Liabilities 44 Total Current Assets 45 46 Long-term Assets 47 48 49 Total Long-term Assets 50 51 52 53 54 55 56 57 Total Assets 58 59 Stockholders' Equity 0 Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Sheet1 - READY Attempt(s) 9/10 ins