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Use the following information to complete the December 31, 2014 balance sheet of Copper Supplies Company (1) Owners' equity as of January 1, 2014, totaled
Use the following information to complete the December 31, 2014 balance sheet of Copper Supplies Company (1) Owners' equity as of January 1, 2014, totaled $175,000, which included capital stock of $150,000. (2) Additional capital stock was issued during 2014 in exchange for $40,000 cash. (3) Net income for 2014 amounted to $200,000; no dividends were paid during 2014 (4) Cash and accounts receivable together amount to 3 times as much as accounts payable. Copper Supplies Company Balance Sheet December 31. 2017 S 30.000 Cash Accounts receivable Equipment Building Land 300.000 215.000 Liabilities & Owners' Equity Liabilities Accounts payable S 40.000 Notes pavable Total liabilitics Owners equity Capital stock S Retamed camings Total liabilities and owners equita S S Total assets 5835.000 CS " 7 % EEEE 2:00 PM FNG
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