Question
The account balances for White Corporation are listed below.All balances are as ofDecember 31, 2019, except where noted otherwise. Accounts Payable$16,500Furniture & Fixtures$ 32,000Accounts Receivable4,500Notes
The account balances for White Corporation are listed below.All balances are as ofDecember 31, 2019, except where noted otherwise.
Accounts Payable$16,500Furniture & Fixtures$ 32,000Accounts Receivable4,500Notes Payable (due 9/1/21)20,000Utility Expense6,000Advertising Expense11,200Projection Equipment30,000Dividends2,000Buildings97,000Rent Expense - movies50,600Common Stock?Retained Earnings (Jan. 1, 2019)73,690Cash15,000Salaries and Wages Expense36,490Concessions Revenue56,200Ticket Sales Revenue93,500Cost of Goods Sold (concessions)17,800
a. DetermineTotal Assetsas of December 31, 2019.
b.DetermineTotalCurrentAssetsas of December 31, 2019.
c.DetermineTotal Liabilitiesas of December 31, 2019.
d.DetermineNet Incomefor the year ending December 31, 2019.
e.Determine the balance ofCommon Stockon December 31, 2019.
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