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Matthew Hart is a realtor. He organized his business as a corporation on May 16, 2022. The business received $75,000 cash from Hart and issued
Matthew Hart is a realtor. He organized his business as a corporation on May 16, 2022. The business received $75,000 cash from Hart and issued common stock. Consider the following facts as of May 31, 2022: Click the icon to view the facts.) Read the requirements Requirement 1. Prepare the balance sheet of the real estate business of Matthew Hart Realtor, Inc., at May 31, 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 cleanity 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) Matthew Hart Realtor, Inc. Balance Sheet Total assets Assets May 31, 2022 More info a. Hart has $18,000 in his personal bank account and $63,000 in the business bank account. b. Hart owes $4,600 on a personal charge account at a local department store. C. d. e. f. g. Hart acquired business furniture for $21,100 on May 24. Of this amount, the business owes $2,000 on accounts payable at May 31. Office supplies on hand at the real estate office total $3,000. Hart's business owes $108,000 on a note payable for some land acquired for a total price of $156,000. Hart's business spent $16,000 for a Hometown Realty franchise, which entitles him to represent himself as an agent. Hometown Realty is a national affiliation of independent real estate agents. This franchise is a business asset. Hart owes $159,000 on a personal mortgage on his personal residence, which he acquired in 2014 for a total price of $386,000. Print Done
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