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Need on the last pucture please! Required information [The following information applies to the questions displayed below.) The accounting records of Nettle Distribution show the
Need on the last pucture please!
Required information [The following information applies to the questions displayed below.) The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018 and 2019. December 31 2018 2019 Cash $ 56,571 $ 11,273 Accounts receivable 30,707 24,075 Office supplies 4,844 3,548 Office equipment 148,693 158, 386 Trucks 58,185 67, 185 Building 193,966 Land 48,402 Accounts payable 80,730 40,840 Note payable 142,368 Required: 1. Prepare balance sheets for the business as of December 31, 2018 and 2019. Hint: Report only total equity on the balance sheet and remember that total equity equals the difference between assets and liabilities. Answer is complete and correct. Complete this question by entering your answers in the tabs below. Balance Sheet Balance Sheet 2018 2019 Prepare the balance sheet for the business as of December 31, 2018. Hint: Report only total equity on the balance sheet and remember that total equity equals the difference between assets and liabilities. $ S 80.730 0 NETTLE DISTRIBUTION Balance Sheet December 31, 2018 Liabilities 56,571 Accounts payable 30,707 4,844 58,185 Equity 148,693 Total equity 299,000 Total liabilities and equity Assets Cash Accounts receivable Office supplies Trucks Office equipment Total assets OOOOO 0 218,270 $ 299,000 $ Balance Sheet 2018 Balance Sheet 2019 Required: 1. Prepare balance sheets for the business as of December 31, 2018 and 2019. Hint: Report only total equity on the balance sheet and remember that total equity equals the difference between assets and liabilities. Answer is complete and correct. Complete this question by entering your answers in the tabs below. Balance Sheet Balance Sheet 2018 2019 Prepare the balance sheet for the business as of December 31, 2019. Hint: Report only total equity on the balance sheet and remember that total equity equals the difference between assets and liabilities. NETTLE DISTRIBUTION Balance Sheet December 31, 2019 Assets Liabilities Cash $ 11,273 Accounts payable $ 40,040 Accounts receivable 24,075 Notes payable 142,368 Office supplies 3,548 0 Office equipment 158,386 0 Trucks 67,185 Total liabilities $ 182,408 Land 48,402 Equity Building 193,966 Total equity 324,427 Total assets $ 506,835 Total liabilities and equity S 506,835 > OO Balance Sheet 2018 Balance Sheet 2019 Required information [The following information applies to the questions displayed below.) The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018 and 2019. December 31 2018 2019 Cash $ 56,571 $ 11,273 Accounts receivable 30,707 24, 075 Office supplies 4,844 3,548 Office equipment 148,693 158, 386 Trucks 58,185 67,185 Building 193,966 Land 48,402 Accounts payable 80,730 40, 040 Note payable 142,368 @ @ @ 2. Compute net income for 2019 by comparing total equity amounts for these two years and using the following information: During 2019, the owner invested $35,000 additional cash in the business (in exchange for common stock) and the company paid a $34,800 cash dividend. Answer is not complete. Equity, December 31, 2018 Add: Owner's investment Add: Net income $ 218,270 35,000 71,157 324,427 Less: Dividends 0 324,427 Equity, December 31, 2019 $ Step by Step Solution
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