I’m terrible at math and I’m trying to figure this out… any guidance would be helpful as how to go about fiurin this out. I don’t even know how to plug this in to excel.
the question shows a cash balance of $14,400 office equipment $49,560 building $79,200 Land 96,00= Notes payable 50,400+accounts payable 8,760+ capitol Stock $180,000.
then i have to calculate the following:
On january 1, the own sold capitol stock for $48,000
then ourchased land and a small office for total price of $96,00; $36,00 was the land value and $60,00 was the building value.
the paid $12,000 cash and signed a note payable for the remaining $84,000.
the bought several computers for $9,600 on 30 day credit
then obtained a loan for $14,400. signed a note payable.
then paid $7,200 of an account payable due as of Dec 31st.
I am expected to list the Dec 31st blances of assets, liabilities and owner’s equity in tabular form. alos, I have to recxord the effects of each transaction, and show the totals for all columns after each transaction.