In: Accounting
Accounts Payable | $ | 53,000 | |
Accounts Receivable | 30,800 | ||
Cash (balance on January 1, 2013) | 108,900 | ||
Cash (balance on September 30, 2013) | 93,000 | ||
Common Stock | 149,000 | ||
Dividends | 0 | ||
Equipment | 144,700 | ||
Income Tax Expense | 10,900 | ||
Interest Expense | 30,300 | ||
Inventory | 18,000 | ||
Notes Payable | 30,900 | ||
Prepaid Rent | 7,800 | ||
Office Expense | 15,100 | ||
Retained Earnings (beginning) | 10,300 | ||
Salaries and Wages Expense | 36,500 | ||
Service Revenue | 153,800 | ||
Utilities Expense | 25,900 | ||
Salaries and Wages Payable | 16,000 | ||
Other cash flow information: | |||
Cash from issuing common stock | $ | 29,000 | |
Cash paid to reacquire common stock | 32,900 | ||
Cash paid for income taxes | 11,800 | ||
Cash paid to purchase long-term assets | 60,400 | ||
Cash paid to suppliers and employees | 92,800 | ||
Cash received from customers | 153,000 |
this is what I got on the balance sheet, please correct me if I'm wrong. and please answer the question from 1a to 2c thank you
OPENRESERVATION, INC. | |
Balance Sheet | |
For the Nine Months Ended September 30, 2013 | |
Assets | |
Cash | $93,000 |
Accounts Receivable | 30,800 |
Inventory | 18,000 |
Prepaid Rent | 7,800 |
Equipment | 144,700 |
Total Assets | $294,300 |
Liabilities | |
Accounts Payable | $53,000 |
Salaries and Wages Payable | 16,000 |
Notes Payable | 30,900 |
Total Liabilities | 99,900 |
Stockholders' Equity | |
Common Stock | 149,000 |
Retained Earnings | 10,300 |
Total Stockholders' Equity | 159,300 |
Total Liabilities and Stockholders' Equity | $259,200 |
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