6d photo, thank you. The accounting records of LeClaire Delivery Services show the following assets and liabilities as of the end of 2020 and 2019:December 3120202019$ 9,37511,1751,65027,00073,50022,50090,00918,750Cash$ 26, 250Accounts receivableOffice supplies14, 2502, 25027,00069,000TrucksOffice equipmentLandBuildingAccounts payableNotes payable3,75052,500During December 2020 the owner, Jess LeClaire, purchased a small office building and moved the business from rented quarters tothe new building. The building and the land it occupies cost $112,500. The business paid $60,000 in cash and a note payable wassigned for the balance. LeClaire had to invest $17,500 cash in the business to enable it to pay the $60,000. The business earned aProfit during 2020, which enabled LeClaire to withdraw $1,500 per month from the business for personal expenses.Required:1-a. Prepare balance sheet for the business as of the end of 2019.LECLAIRE DELIVERY SERVICESBalance SheetDecember 31, 2019 Analysis Component:Compare the increase in assets from December 31, 2019, to December 31, 2020., and complete the following table.Increase in assetsIncrease in Assets financed by debtIncrease in Assets financed by equity

Le Claire delivery services Balance sheet as on 31, December 2019 Assets…

December 31 2020 2019 $ 9,375 $ 26, 250 receivable 11,175 1,650 27,000 73,500 22,500 90,000 18,750 52,500 14, 250 2,250 27,000 69,000 upplies quipment payable vable 3,750 cember 2020 the owner, Jess LeClaire, purchased a small office building and moved the business from rented quarters to uilding. The building and the land it occupies cost $112,500. The business paid $60,000 in cash and a note payable was the balance. LeClaire had to invest $17,500 cash in the business to enable it to pay the $60,000. The business earned a ng 2020, which enabled LeClaire to withdraw $1,500 per month from the business for personal expenses. re balance sheet for the business as of the end of 2019. LECLAIRE DELIVERY SERVICES Balance Sheet December 31, 2019

December 31 2020 2019 $ 9,375 $ 26, 250 receivable 11,175 1,650 27,000 73,500 22,500 90,000 18,750 52,500 14, 250 2,250 27,000 69,000 upplies quipment payable vable 3,750 cember 2020 the owner, Jess LeClaire, purchased a small office building and moved the business from rented quarters to uilding. The building and the land it occupies cost $112,500. The business paid $60,000 in cash and a note payable was the balance. LeClaire had to invest $17,500 cash in the business to enable it to pay the $60,000. The business earned a ng 2020, which enabled LeClaire to withdraw $1,500 per month from the business for personal expenses. re balance sheet for the business as of the end of 2019. LECLAIRE DELIVERY SERVICES Balance Sheet December 31, 2019

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Mutiple Choice O $72.00 O $500 O $400
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Chapter 5 Saved Help Multiple Choice $56,625. $64,110 $56,110. $28.800
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Help Save & Exit Su Cromartie Ltd. prepares its financial statements according to International Financial Reporting Standards. During 2021 the company incurred $1,277,000 in research expenditures to develop a new product. An additional $788,000 in development expenditures were incurred after technological and commercial feasibility was established and after the future economic benefits were deemed probable. The project was successfully completed and the new product was patented before the end of the 2021 fiscal year. Sale of the product began in 2020. What amount of the above expenditures would Cromartie expense in its 2021 income statement? Multiple Choice $0. $2,065,000. $1.277.000.