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( i need it typed please )? Balance Sheet and Net Income Determination At the beginning of 2012, Luxury Parking Services had the following balance
( i need it typed please )?
Balance Sheet and Net Income Determination At the beginning of 2012, Luxury Parking Services had the following balance sheet:
Assets | Liabilities | |||
Cash | $10,440 | Accounts Payable | $24,300 | |
Accounts Receivable | 26,460 | |||
Land | 108,900 | Total Liabilities | 24,300 | |
Stockholders' Equity | ||||
Common Stock | 108,000 | |||
Retained Earnings | 13,500 | |||
Total Stockholders' Equity | 121,500 | |||
Total Assets | $145,800 | Total Liabilities and Stockholders' Equity | $145,800 |
a. At the end of 2012, Luxury Services had the following assets and liabilities:
Cash | $15,840 |
Accounts Receivable | 31,320 |
Land | 108,900 |
Accounts Payable | 17,100 |
Prepare a year-end balance sheet for Luxury Parking Services that no additional stock was issued.
b. Assume that stockholders did not invest any money in the business during the year but received a dividend of $21,600. What was the company's net income or net loss for 2012?
a.
Assets | Liabilities & Stockholders' Equity | ||
Current Assets: | Current Liabilities: | ||
______? | ____________? | _________? | ___________? |
Total Current Liabilities | |||
Total Current Assets | |||
Noncurrent Assets: | Stockholders' Equity: | ||
total noncurrent assets | |||
total stockholders Equity | |||
Total Assets | Total Liabilities and Stockholders' Equity |
b. Net Income (Loss) $______?
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