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Need help ASAP!! Kindly include all the step in the excel ( which box to click and all the rules) 4 a. Received $50,000 cash
Need help ASAP!! Kindly include all the step in the excel ( which box to click and all the rules)
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 50,000 Supplies 900 11 a. c. 5,000 10,000 500 b. d. 12 13 e. 14 bal. 34,500 bal. 900 15 16 17 b. Land 20,000 d. Equipment 10,000 18 19 bal. 20,000 bal. 10,000 20 Accounts Payable 500 Note Payable 21 22 e. 23 900 c. 15,000 b. 24 400 bal. 15,000 bal. 25 Comman taal Sheet1 2e. ALUS I uyum 500 UW I LUI 900 c. 15,000 b. 400 bal. 15,000 bal. Common Stock 50,000 a. 50,000 bal. Required: Using the T-account BALANCES and the information in the transactions, prepare a classified balance sheet for Lantana Company. Note: Use cell references to the T-account titles to complete columns B and G. Use cell references to the T-account balances and formulas to complete columns C and H. List long-term assets in alphabetical order. LANTANA COMPANY Balance Sheet At December 31, 2016 Liabilities and Stockholders' Equity Current Liabilities Assets Current Assets Total Current Liabilities Total Current Assets Sheet1 37 38 39 LANTANA COMPANY Balance Sheet At December 31, 2016 Liabilities and Stockholders' Equity Current Liabilities Total Current Liabilities 40 Assets 41 Current Assets 42 43 44 Total Current Assets 45 46 Long-term Assets 47 48 49 Total Long-term Assets 50 51 52 53 Long-term Liabilities Total Long-term Liabilities Total Liabilities Stockholders' Equity 0 54 55 Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 56 57 Total Assets 58 59 Sheet1 + *** READY Attempt(s) Step by Step Solution
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