subject
Business, 05.10.2019 05:10 baileyedavis

The accounting records of nettle distribution show the following assets and liabilities as of december 31, 2014 and 2015. december 3120142015 cash$ 64,300$ 15,640 accounts receivable26,240 19,390 office supplies3,160 1,960 office equipment44,000 44,000 trucks148,000 157,000 building0 80,000 land0 60,000 accounts payable3,500 33,500 note payable0 40,000 late in december 2015, the business purchased a small office building and land for $140,000. it paid $100,000 cash toward the purchase and a $40,000 note payable was signed for the balance. mr. nettle had to invest $35,000 cash in the business to enable it to pay the $100,000 cash. mr. nettle withdraws $3,000 cash per month for personal use. required: 1.prepare balance sheets for the business as of december 31, 2014 and 2015. (hint: report only total equity on the balance sheet and remember that total equity equals the difference between assets and liabilities.)nettle distributionbalance sheetdecember 31, 2014assetsliabilitiescash$64,300acc ounts payable$3,500accounts receivable26,240office equipment44,000trucks148,000equityt otal equity282,200total assets$282,540total liabilities and equity$285,700nettle distributionbalance sheetdecember 31, 2015assetsliabilitiescash$15,640acc ounts payable$33,500accounts receivable19,390note payable40,000office supplies1,960office equipment44,000trucks157,000total liabilities73,500building80,000equi tyland60,000total equity304,490total assets$377,990total liabilities and equity$377, show how you calculate this so i can have a clear understanding of how to arrive at the answers. equity, december 31, 2014add: owner's investment35,000add: net income35,000less: owner withdrawalsequity, december 31, 2015$35,000

ansver
Answers: 1

Other questions on the subject: Business

image
Business, 22.06.2019 06:40, ayleenmorar
Vintage fun reproduces oldminusfashioned style roller skates and skateboards. the annual production and sales of roller skates is 950 units, while 1,750 skateboards are produced and sold. the company has traditionally used direct labor hours to allocate its overhead to products. roller skates require 2.5 direct labor hours per unit, while skateboards require 1.25 direct labor hours per unit. the total estimated overhead for the period is $114,300. the company is looking at the possibility of changing to an activityminusbased costing system for its products. if the company used an activityminusbased costing system, it would have the following three activity cost pools: the overhead cost per skateboard using the traditional costing system would be closest to: a. $9.31. b. $65.31. c. $25.05. your answer is not correct. d.
Answers: 2
image
Business, 22.06.2019 09:00, puppy5209
Aminor has the legal right to repudiate
Answers: 2
image
Business, 22.06.2019 12:40, gldven7636
When cell phones were first entering the market, they were relatively large and reception was undependable. all cell phones were essentially the same. but as the technology developed, many competitors entered, introducing features unique to their phones. today, cell phones are only a small fraction of the size and weight of their predecessors. consumers can buy cell phones with color screens, cameras, internet access, daily planners, or voice activation (and any combination of these features). the history of the cell phone demonstrates what marketing trend?
Answers: 3
image
Business, 22.06.2019 22:00, KHaire6856
The following table gives the map coordinates and the shipping loads for a set of cities that we wish to connect through a central hub.,(7,(4,(7,(6,(2,( 2,) for the location of the proposed new central hub, the coordinates should be near: x==) if the shipments from city a double, for the location of the proposed new central hub, the coordinates should be near: x==.926.865.017.21
Answers: 1
You know the right answer?
The accounting records of nettle distribution show the following assets and liabilities as of decemb...

Questions in other subjects:

Konu
Mathematics, 30.01.2020 14:58
Konu
Mathematics, 30.01.2020 14:58