I have to use cell references / excel formuals for the answer boxes aside from a single numeric value
The following transactions occurred for Lantana Company during its first month of operations and have been recorded in the 3 T-accounts below. C. 14 d 5 a. Received $50,000 cash from Lantana, the sole proprietor, 6 b. Purchased land for $20,000, paid $5,000 in cash and signed a 2-year note for the remainder. c. Bought $900 of supplies on account. 8 d. Purchased $10,000 of equipment, paying cash. 9 e. Paid $500 on account for supplies purchased in transaction (c). 10 11 Cash Supplies 12 a. 50,000 5,000 b. 900 13 10,000 d. 500 e. 15 bal. 34.500 bal. 900 16 17 Land Equipment 18 b. 20,000 10,000 19 20 bal. 20.000 bal. 10.000 21 22 Accounts Payable Note Payable 23 e. 500 900 C. 15,000 b. 24 25 400 bal. 15,000 bal. 26 27 Lantana, Capital 28 50,000 a. 29 30 50,000 bal. 31 32 Required: 33 Using the T-account BALANCES and the information in the transactions, prepare a classified balance sheet for Lantana Company 34 Note: Use cell references to the T-account titles to complete columns B and G. Use cell references to the T-account balances and 35 formulas to complete columns Cond H. 36 37 LANATANA COMPANY 38 Balance Sheet 39 At December 31 Lantana, Capital 8 50,000 a. 50,000 bal. 1 2 Required: 3 Using the T-account BALANCES and the information in the transactions, prepare a classified balance sheet for Lantana Company. 4 Note: Use cell references to the T-account titles to complete columns B and G. Use cell references to the T-account balances and 5 formulas to complete columns Cand H. 16 7 LANATANA COMPANY 98 Balance Sheet 39 At December 31 10 Assets Liabilities and Equity 11 Current Assets Current Liabilities 12 43 14 Total Current Assets Total Current Liabilities 45 Long-term Assets Long-term Liabilities 46 47 48 Total Long-term Assets 49 50 51 52 53 54 Total Assets SS Total Long-term Liabilities Total Liabilities Owners' Equity Total Owners' Equity Total Liabilities and Equity