Question
On January 1, 2016, Dr. Beth Hill started a new professional corporation, Beth Hill, P. C., to practice medicine. On Dec 31, 2016, the accounting
On January 1, 2016, Dr. Beth Hill started a new professional corporation, Beth Hill, P. C., to practice medicine. On Dec 31, 2016, the accounting records showed the following amounts:
| Notes Payable (due in 6 months) | $12,000 |
| Cash | $30,000 |
| Office Equipment | $4,300 |
| Common stock | $23,000 |
| Office Supplies | $3,500 |
| Retained Earnings | $5,000 |
| Accounts Receivable | 2,200 |
Requirement: Prepare a balance sheet as of Dec 30, 2016.
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Financial Accounting an introduction to concepts, methods and uses
Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis
13th Edition
978-0538776080, 324651147, 538776080, 9780324651140, 978-0324789003
