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Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $31,500 and has cash on hand of $17,000 contributed by
Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $31,500 and has cash on hand of $17,000 contributed by Lanni's owners. Lanni takes out a bank loan. It recelves $47,000 In cash and signs a note promising to pay back the loan over 3 years a-1. Prepare the balance sheet just after it gets the bank loan. Assets Liabilities & Shareholders' Equity 5 47,000 Cash 5 17,000 Bank loan Computers 31,500 Shareholders' equity Total 5 48,500 Total a-2. What Is the ratio of real assets to total assets? (Round your answer to 2 declmal places.) atio of real assets to total assets b-1. Prepare the balance sheet after Lanni spends the $64,000 to develop Its software product. Assets Software product Computers Liabilities & Shareholders' Equity Bank loarn Shareholders' equity Total Total b-2. What is the ratio of real assets to total assets? (Round your answer to 2 declmal places.) Ratio of real assets to total assets
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