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Please use the balance sheet below to answer the following three (3) questions Scenario #2 (separate and not related to Scenario #1)-UCF Bicycle Vending Machine
Please use the balance sheet below to answer the following three (3) questions Scenario #2 (separate and not related to Scenario #1)-UCF Bicycle Vending Machine Company is a small business that is owned by one owner (Owner #1) who owns 100% of the 1,000 shares of outstanding no par common stock. UCF Bicycle Vending Machine Company has received a $100,000 loan from the bank. The loan will be repaid over 5 years Balance Sheet prior to receiving the loan: Balance Sheet UCF Bicycle Vending Machine December 31, 20xx Current Year Assets Current Assets Cash Accounts Receivable Inventory 30 50 60 140 Total Assets Liabilities Accounts Payable Notes Payable 10 40 40 Total Liabilities Stockholders' Equity Common Stock Retained Earning 50 50 100 140 Total Stockholders' Equity Total Liabilities and Stockholders' Equity
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