Question
Nona Curry started her own consulting firm, Tamarisk, Inc., on May 1, 2017. The following transactions occurred during the month of May. May 1 Stockholders
Nona Curry started her own consulting firm, Tamarisk, Inc., on May 1, 2017. The following transactions occurred during the month of May.
May 1 | Stockholders invested $15,825 cash in the business in exchange for common stock. | |
2 | Paid $633 for office rent for the month. | |
3 | Purchased $528 of supplies on account. | |
5 | Paid $158 to advertise for the month in the County News. | |
9 | Received $1,477 cash for services performed. | |
12 | Paid $211 cash dividend. | |
15 | Performed $4,431 of services on account. | |
17 | Paid $2,638 for employee salaries. | |
20 | Paid for the supplies purchased on account on May 3. | |
23 | Received a cash payment of $1,266 for services performed on account on May 15. | |
26 | Borrowed $5,275 from the bank on a note payable. | |
29 | Purchased office equipment for $2,110 paying $211 in cash and the balance on account. | |
30 | Paid $190 for utilities. |
Prepare a classified balance sheet at May 31, 2017. (List current assets in order of liquidity)
TAMARISK, INC. Balance Sheet May 31, 2017For the Year Ended May 31, 2017For the Month Ended May 31, 2017 | ||||||
Assets | ||||||
Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Stockholders' Equity | ||||||
$ | ||||||
Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Stockholders' Equity | $ | |||||
Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Stockholders' Equity | $ | |||||
Liabilities and Stockholders' Equity | ||||||
Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Stockholders' Equity | ||||||
$ | ||||||
Current Assets Current Liabilities Intangible assets Long-term investments Long-term Liabilities Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible assets Total liabilities Total liabilities and stockholders' equity Total Long-term investments Total long-term liabilities Total Property, Plant and Equipment Total stockholders' equity | $ | |||||
Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Stockholders' Equity | ||||||
Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Stockholders' Equity | ||||||
Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Stockholders' Equity | $ |
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