Question
Hi, Please assist in determining the missing information: Preparing a Balance Sheet, Computing Net Income, and Understanding Equity Transactions At the beginning of 2015, Barth
Hi,
Please assist in determining the missing information:
Preparing a Balance Sheet, Computing Net Income, and Understanding Equity Transactions
At the beginning of 2015, Barth Company reported the following balance sheet.
Assets | Liabilities | ||||
Cash | $4,800 | Accounts Payable | $12,000 | ||
Accounts Receivable | 14,700 | Equity | |||
Equipment | 10,000 | Common Stock | 47,500 | ||
Land | 50,000 | Retained Earnings | 20,000 | ||
Total Assets | $79,500 | Total Liabilities and Equity | $79,500 |
Required a. At the end of 2015, Barth Company reported the following assets and liabilities: Cash, $8,800; Accounts Receivable, $18,400; Equipment, $9,000; Land, $50,000; and Accounts Payable, $7,500. Prepare a year-end balance sheet for Barth. (Hint: Report equity as a single total.)
(please assist to find the empty fields)
b. Assuming that Barth did not issue any common stock during the year but paid $12,000 cash in dividends, what was its net income or net loss for 2015?
c. Assuming that Barth issued an additional $13,500 common stock early in the year but paid $21,000 cash in dividends before the end of the year, what was its net income or net loss for 2015?
BARTH COMPANY Balance Sheet Decemer 31, 2015 Assets Liabilities Cash Accounts Payable 8,800 7,500 Accounts Receivable 8,400 Equipment 9,000 Equity Land 0,000 Stockholders' Equity+ Total Assets $ 86,200 Total Liabilities and Equity $Step by Step Solution
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