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More Info a. b. C. d. Hunter has $16,000 in his personal bank account and $62,000 in the business bank account. Hunter owes $3,000 on
More Info a. b. C. d. Hunter has $16,000 in his personal bank account and $62,000 in the business bank account. Hunter owes $3,000 on a personal charge account at a local department store. Hunter acquired business furniture for $16,000 on June 24. Of this amount, the business owes $15,000 on accounts payable at June 30. Office supplies on hand at the real estate office total $2,000. Hunter's business owes $144,000 on a note payable for some land acquired for a total price of $150,000. Hunter's business spent $25,000 for a Realty Know - How franchise, which entitles him to represent himself as an agent. Realty Know - How is a national affiliation of independent real estate agents. This franchise is a business asset. Hunter owes $194,000 on a personal mortgage on his personal residence, which he acquired in 2014 for a total price of $366,000. e. f. g. Print Done Requirement 1. Prepare the balance sheet of the real estate business of Richard Hunter Realtor, Inc., at June 30, 2019. (Do not classify 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 a box is not used in the balance sheet leave the box empty; do not select a label or enter a zero.) Richard Hunter Realtor, Inc. Balance Sheet June 30, 2019 Assets Liabilities Cash 62,000 Office supplies 2,000 Furniture 16,000 Land 150,000 Stockholders' Equity Franchise 25,000 $ 255,000 Total assets Total liabilities and stockholders' equity
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