DL Preparing a classified balance sheet - Excel ? - u FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 AP H % Paste BIU Alignment Number Cells Editing Conditional Format as Cell Formatting Table Styles Styles Clipboard Font [5 B13 B G H I A DEF 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 Cand H. List long-term assets in alphabetical order. 36 37 38 39 LANTANA COMPANY Balance Sheet At December 31, 2016 Liabilities and Stockholders' Equity Current Liabilities 40 Assets 41 Current Assets 42 43 Total Current Liabilities 44 Total Current Assets 45 46 Long-term Assets 47 Long-term Liabilities 48 49 Total Long-term Assets Total Long-term Liabilities Total Liabilities 50 51 52 Stockholders' Equity 53 54 Retained Earnings 0 Sheet1 READY + 100% Attempt(s) Hint X 5 - 5 x Preparing a classified balance sheet - Excel FORMULAS DATA REVIEW FILE 2 HOME INSERT PAGE LAYOUT VIEW Sign In Calibri 11 % Paste BIU- A Cells Editing 25 points Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font B13 fac A B G H eBook 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 References 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. e. Paid $500 on account for supplies purchased in transaction (c). 8 9 10 Cash 50,000 Supplies 900 11 a. c. 5,000 10,000 500 b. d. 12 13 e. 14 bal. 34.500 bal. 900 15 16 Land 20,000 Equipment 10,000 17 b. d. 18 19 bal. 20,000 bal. 10,000 20 21 Note Payable Accounts Payable 500 22 e. 900 C. 15,000 b. 23 24 L. Sheet1 + 100% READY Attempt(s) Hint FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sig Calibri 11 | A Paste BIU- % Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells Editing Clipboard Font B13 face A B C DEF G H 1 10 Cash 50,000 Supplies 900 c. 11 a. 12 5,000 10,000 500 b. d. 13 14 bal. 34,500 bal. 900 15 16 Land 20,000 Equipment 10,000 17 b. d. 18 19 bal. 20.000 bal. 10.000 20 21 Accounts Payable 500 Note Payable 900 C. 22 e. 23 15,000 b. 24 400 bal. 15.000 bal. 25 26 Common Stock 27 50,000 a. 28 29 50,000 bal. 30 X 5 Preparing a classified balance sheet - Excel ? - X FILE HOME 2 INSERT PAGE LAYOUT DATA FORMULAS REVIEW VIEW Sign In Calibri 11 - A A % # Paste BIU- Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles 25 points Clipboard Font A B13 : fox A B 1 37 eBook 38 39 DEF G H LANTANA COMPANY Balance Sheet At December 31, 2016 Liabilities and Stockholders' Equity Current Liabilities 40 Assets References 41 Current Assets 42 43 44 Total Current Assets Total Current Liabilities 45 Long-term Liabilities 46 Long-term Assets 47 48 49 Total Long-term Assets 50 Total Long-term Liabilities Total Liabilities 51 52 Stockholders' Equity 53 54 0 55 56 Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 57 Total Assets 58 59 60 Sheet1 LLE + E + 100% READY Attempt(s) Hint
