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Hudson Hill is a realtor. He organized his business as a corporation on November 1 6 , 2 0 2 2 . The business received

Hudson Hill is a realtor. He organized his business as a corporation on November 16,2022. The business received $80,000 cash from Hill and issued common stock.
Consider the following facts as of November 30,2022:
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Read the requirements.
Requirement 1. Prepare the balance sheet of the real estate business of Hudson Hill Realtor, Inc., at November 30,2022.
First prepare the balance sheet header, then complete the assets section of the statement. Finally, complete the liabilities and stockholders' equity section of the statement. (Do not classify the balance sheet into current and long-term sections. In the first part complete the assets section of the balance sheet. In the second part complete the liabilities and stockholders' equity section of the balance sheet. If an input field is not used in the balance sheet leave the field empty; do not select a label or enter a zero.)
Requirements
Prepare the balance sheet of the real estate business of Hudson Hill Realtor, Inc., at November 30,2022.
Does it appear that the realty business can pay its debts? How can you tell?
Identify the personal items given in the preceding facts that should not be reported on the balance sheet of the business.
a. Hill has $14,000 in his personal bank account and $52,000 in the business bank account.
b. Hill owes $3,300 on a personal charge account at a local department store.
c. Hill acquired business furniture for $26,300 on November 24. Of this amount, the business owes $18,000 on accounts payable at November 30.
d. Office supplies on hand at the real estate office total $1,000.
e. Hill's business owes $123,000 on a note payable for some land acquired for a total price of $151,000.
f. Hill's business spent $22,000 for a Realty Know - How franchise, which entitles him to represent himself as an agent. Realty Know - How is a national affiliation of independent real estate agents. This franchise is a business asset.
g. Hill owes $195,000 on a personal mortgage on his personal residence, which he acquired in 2014 for a total price of $348,000.
Requirement 1. Prepare the balance sheet of the real estate business of Hudson Hill Realtor, Inc at November 30,2022
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