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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.,
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 Dollar Effect of Each of the Six Transactions 1 2 3 4 5 6 $50,000 $(9,000) $(4,100) $(8,000) $ 2,000 $(5,000) 8,000 (2,000) 4,100 Accounts Cash Investments (short-term) Notes receivable (due in six months) Computer equipment Delivery truck Notes payable (due in 10 years) Common stock (2,500 shares) Additional paid-in capital 5,000 21,000 12,000 5,000 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: Liabilities: Total current assets 0 Total liabilities 0 Stockholders' Equity 0 Total stockholders' equity 0 Total liabilities and stockholders' equity Total assets $ $ 0
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