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What is the balance sheet for this data below? Stonewall Company went into business on July 1.2012. During 2012. Stonewall had the following transactions: July
What is the balance sheet for this data below?
Stonewall Company went into business on July 1.2012. During 2012. Stonewall had the following transactions: July 1 - Issued lac shares of stock to stockholders for a total of $10,000 in cash. July 1 - Borrowed $12,000 from the bank. Churchill will pay nothing until July 1,2014, and then the company will pay $14,000. Sept 1 - Bought land for 8.000 in cash. Oct 1 - Bought equipment for $9,000 in cash. The equipment has an expected useful life of three years and no salvage value. Oct 12 - Bought inventory for S&UU0. one-half in cash and one-half on account. Nov. 1 - Paid $1,800 for six months of insurance. Nov. 18 - Sold $2.500 of inventory for $6.000 in cash. Nov. 25 - Sold one-half of land for $4,500 in cash. Nov. 30 - Paid accounts payable. Dec. 1 - Received $1.000 for work that wit be done in January. 2013. Dec. 16 - Sold $1,000 of inventory for $2.000 on account Dec. 31 - Paid a dividend of $2.000 in cash
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