163. Complete the December 31, 2014 (first year of operation) Balance sheet for Weglein Company using the following information: ( a) Retained earnings at December 31, 2014 was $51,000. ( b) Total stockholders' equity at January 1, 2014 was $139,000. ( c) On December 30, 2014, additional capital stock was sold for cash, $55,000 ( d) The land and building were purchased on December 30, 2014 for $150,000. Weglein Company Balance Sheet December 31, 2014 Assets Liabilities & Stockholders' Equity Cash $ 80,000 Liabilities: Accounts receivable Notes payable $ Land 112,000 Accounts payable 45,000 Buildings Total liabilities $ Equipment 30,000 Stockholders' equity: Capital Stock $ Retained earnings _______ _______ Total liabilities and Total assets $_______ stockholders' equity $390,000 | |
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