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Question 3) Dave McGrady is the bookkeeper for Lumpkin Company. Dave has been trying to get the balance sheet of Lumpkin Company to balance.
Question 3) Dave McGrady is the bookkeeper for Lumpkin Company. Dave has been trying to get the balance sheet of Lumpkin Company to balance. It finally balanced, but now he's not sure it is correct. Lumpkin Company Balance Sheet December 31, 2022 Assets Liabilities and Stockholders' Equity Equipment $130,000 Common stock $??????? Supplies 15,755 Accounts receivable 39,000 Cash 58,500 Accounts payable 55,250 Dividends 21,070 Retained earnings 102,445 Total Assets $225,325 Total liabilities & stockholders' equity $??????? Instructions (in color): Prepare a correct balance sheet in good form (as shown in lecture). Note: Lumpkin Company had Common Stock, but you will need to determine the number based on the information given.
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