FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In 4 PivotChart mu Power Sparklines Filters View Reports Links Tables Illustrations Apps for Recommended Office Charts Apps Text Symbols Charts A1 L X fac The following transactions occurred for Lantana Company during its first month B DEF G H IJK 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 6 a. Issued 7,500 shares of stock with a par value $0.10 to three owners (2,500 shares each) for $75,000 in cash. 5 b. Purchased a short-term investment for $10,000 cash. c. Purchased 2 acres of land for $20,000, paid $5,000 in cash and signed a 2 year note for the remainder. 7 d. Bought $900 of supplies on account. e. Sold 1/2 acre of land for $5,000. Accepted a note to receive payment in one year. 9 f. Purchased $10,000 of equipment in cash. g. Paid $500 on account for supplies purchased in transaction(d). 8 10 11 12 13 Cash Short-Term Investments 10,000 14 a. 75,000 15 16 10,000 b. b. 5,000 C. 10,000 f. 500 g bal. 17 18 bal. 49.500 10.000 19 20 Notes Receivable Supplies 21 e. 5,000 d. 900 22 23 24 L Sheet1 + II. 1 100% READY Attempt(s) FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In A 22 PivotChart Text Symbols Tables Illustrations Apps for Recommended Office Charts Apps Power Sparklines Filters Links View Reports Charts A1 fox The following transactions occurred for Lantana Company during its first month A B G H IJK L DEF bal. 24 bal. 5.000 900 25 26 Land Equipment 27 c. 20,000 5,000 e. f. 10,000 28 29 bal. 15.000 bal. 10.000 30 31 Accounts Payable 500 Note Payable 900 d. 15,000 C. 32 g. 33 34 400 bal. 15.000 bal. 35 36 Common Stock Additional Paid-in Capital 74,250 37 750 a. a. 38 39 7.50 bal. 74.250 bal. 40 41 Required: 42 Using the T-account BALANCES and the information in the transactions, 43 prepare a classified balance sheet for Lantana Company. 44 Note: If nothing belongs in a cell, leave it blank. Do not include blank cells in calculations. 45 Also, list long-term assets in alphabetical order. 46 Sheet1 II. 1 100% READY Attempt(s) XD ? el - X Preparing a classified balance sheet - Excel FORMULAS DATA REVIEW FILE HOME INSERT PAGE LAYOUT VIEW Sign In A 22 2 XXX PivotChart Text Symbols Tables Illustrations Apps for Recommended Office Charts Apps Power Sparklines Filters Links View Reports Charts