I need to answer everything in a formula form, thanks!
The following transactions occurred for Lantana Company during its first month of operations 2 and have been recorded in the T-accounts below. 3 3 4 a. Received $50,000 cash from owners in exchange for common stock. 5 b. Purchased land for $20,000, paid $5,000 in cash and signed a 2-year note for the remainder. 6 c. Bought $900 of supplies on account. 7 d. Purchased $10,000 of equipment, paying cash. 8 e. Paid $500 on account for supplies purchased in transaction (c). 9 10 Cash Supplies 11 a. 50,000 5,000 b. 900 12 10,000 d. 13 500 e. 34,500 bal. 15 900 16 Land 17 b. Equipment 20,000 d. 18 10,000 c. 14 bal. 19 bal. 20.000 bal. 10.000 19 bal. 20.000 bal 10.000 20 21 Accounts Payable 500 Note Payable 22 e 900 C. 15,000 b. 23 24 400 bal. 15.000 bal. 25 a. 26 Common Stock 27 50,000 28 29 50.000 bal. 30 31 Required: 32 Using the T-account BALANCES and the information in the transactions, 33 prepare a classified balance sheet for Lantana Company. 34 Note: Use cell references to the T-account titles to complete columns 3 and G. Use cell references to the 35 T-account balances and formulas to complete columns Cand H. List long-term assets in alphabetical order 36 37 LANTANA COMPANY 31 Required: 32 Using the T-account BALANCES and the information in the transactions, 33 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 35 T-account balances and formulas to complete columns Cand H. List long-term assets in alphabetical order. 36 37 LANTANA COMPANY 38 Balance Sheet 39 At December 31, 2016 40 Assets Liabilities and Stockholders' Equity 41 Current Assets Current Liabilities 42 43 44 Total Current Assets 45 46 Long-term Assets Total Current Liabilities Long-term Liabilities 48 49 Total Long-term Assets 50 Total Long-term Liabilities TAR A B D 40 Assets E F Liabilities and Stockholders' Equity Current Liabilities 41 Current Assets 42 43 Total Current Liabilities 44 Total Current Assets 45 46 Long-term Assets 47 Long-term Liabilities 48 Total Long-term Liabilities Total Liabilities 49 Total Long-term Assets 50 51 52 53 54 55 Stockholders' Equity 56 57 Total Assets 58 59 Retained Earnings Total Stockholders' Equity Total abilities and Stockholders' Equity