Problem 1-03A a1-a3

On June 1, 2022, Sandhill Co. was started with an initial investment in the company of $21,175 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2022, and the revenues and expenses for the month of June, its first month of operations:

Cash		$ 4,750		Notes payable		$12,300
Accounts receivable		4,250		Accounts payable		750
Service revenue		7,700		Supplies expense		965
Supplies		2,366		Maintenance and repairs expense		630
Advertising expense		400		Utilities expense		270
Equipment		25,400		Salaries and wages expense		1,200
Common stock		21,175

During June, the company issued no additional stock but paid dividends of $1,694.

Prepare a balance sheet at June 30, 2022. (List assets in order of liquidity.)

SANDHILL CO. Balance Sheet enter an accounting period June 30, 2022For the Month Ended June 30, 2022For the Year Ended June 30, 2022
Assets
enter a balance sheet item					$enter a dollar amount
enter a balance sheet item					enter a dollar amount
enter a balance sheet item					enter a dollar amount
enter a balance sheet item					enter a dollar amount
select a closing name for the first part of the balance sheet Current AssetsLiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity					$enter a total amount for the first part of the balance sheet
Liabilities and Stockholders' Equity
select an opening name for section one Current AssetsLiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
enter a balance sheet item			$enter a dollar amount
enter a balance sheet item			enter a dollar amount
select a closing name for section one Current AssetsLiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity					$enter a subtotal of the two previous amounts
select an opening name for section two Current AssetsLiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
enter a balance sheet item			enter a dollar amount
enter a balance sheet item			enter a dollar amount
select a closing name for section two Current AssetsLiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity					enter a subtotal of the two previous amounts
select a closing name for the second part of the balance sheet Current AssetsLiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity					$enter a total amount for the second part of balance sheet

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