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from the information given in the T accounts, please fill out the following balance sheet for Lantana Company. Please provide the excel formula for it.
from the information given in the T accounts, please fill out the following balance sheet for Lantana Company. Please provide the excel formula for it.
provide the formulas please
G H I B DEF JK 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. 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. 6 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. 8 c. 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. 10 g. Paid $500 on account for supplies purchased in transaction (d). 11 12 13 Cash Short-Term Investments 14 a. 75,000 10,000 b. b. 10,000 15 5.000 16 10,000 f. 17 49.500 bal. 10.000 c. 500 g 18 bal. 19 Notes Receivable Supplies 55000 d. 9001 20 21 c. 22 23 24 bal. 5.000 bal. 200 25 Land Equipment 26 27 c. 20.000 5.000 e. 1. 10.000 28 29 bal. 15.000 bal 10,000 30 26 Land Equipment 27 c. 20,000 5,000 e. f. 10,000 28 15,000 bal. 10.000 Accounts Payable 500 Note Payable 900 d. 15,000 c. 29 bal. 30 31 32 8 33 34 35 36 37 38 39 400 bal. 15,000 bal. Common Stock Additional Paid-in Capital 74.250 750 a. a. 750 bal. 74,250 bal. an B DE F G I L M LANTANA COMPANY Balance Sheet At December 31, 2016 Liabilities and Stockholders' Equity Current Liabilities $ 49,500 Assets Current Assets Cash 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 Total Current Assets Total Current Liabilities Long-term Assets Long-term Liabilities 62 63 Total Long-term Assets Total Long-term Liabilities Total Liabilities Stockholders' Equity 64 65 66 67 68 69 Sheet1 65 66 Stockholders' Equity 67 68 0 69 70 71 72 73 74 Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Total Assets 75 76 77 Sheet1 + Step by Step Solution
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