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PLEASE help me by givining me the EXACT ANWSER in the EXACT FORMAT. just answers will do in the EXACT FORMAT i need a statement
PLEASE help me by givining me the EXACT ANWSER in the EXACT FORMAT. just answers will do in the EXACT FORMAT i need a statement of financial position please help me and give the answer innthe format ive sent in the picture below please check all pictures thank you !!!!
Required information [The following information applies to the questions displayed below.] On December 1, Year 1, John and Patty Driver formed a corporation called Susquehanna Equipment Rentals. The new corporation was able to begin operations immediately by purchasing the assets and taking over the location of Rent-It, an equipment rental company that was going out of business. The newly formed company uses the following accounts. Cash Accounts Receivable Prepaid Rent Unexpired Insurance Office Supplies Rental Equipment Accumulated Depreciation: Rental Equipment Notes Payable Accounts Payable Interest Payable Share Capital Retained Earnings Dividends Income Summary Rental Fees Earned Salaries Expense Maintenance Expense Utilities Expense. Rent Expense Office Supplies Expense Depreciation Expense Interest Expense Income Taxes Expense Salaries Payable Dividends Payable: Unearned Rental Fees Income Taxes Payable The corporation performs adjusting entries monthly. Closing entries are performed annually on December 31. During December of its first year of operations, the corporation entered into the following transactions. Dec. 1 Issued to John and Patty Driver 24,000 new shares in exchange for a total of $240,000 cash. Dec. 1 Purchased for $259,200 all of the equipment formerly owned by Rent-It. Paid $140,000 cash and issued a 1-year note payable for $119,200. The note, plus all 12 months of accrued interest, are due November 30, Year 2.. Dec. 1 Paid $10,800 to Shapiro Realty as three months' advance rent on the rental yard and office formerly occupied by Rent-It. The
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