Land Lords Inc. Budgeted Balance Sheet June 30 Liabilities and Shareholders' Equity Assets Cash Accounts Receivable Inventory Total Current Assets Equipment, net Total Assets ??? Accounts Payable $500 Total Current Liabilities $1,300 $3,500 $3,500 $1,300 $1,200 ??? Total Liabilities and Shareholders' Equity $6,000 ??? Common Stock $2,000 Retained Earnings Based on the Budgeted Balance Sheet above, what should cash be?

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter24: Analysis Of Financial Statements
Section: Chapter Questions
Problem 10SPB: RATIO ANALY SIS OF COMPARATI VE FIN ANCIAL STATE MENT S Refer to the financial statements in Problem...
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Land Lords Inc.
Budgeted Balance Sheet
June 30
Liabilities and Shareholders' Equity
Assets
Cash
Accounts Receivable
Inventory
Total Current Assets
Equipment, net
Total Assets
??? Accounts Payable
$500 Total Current Liabilities
$1,300
$3,500
$3,500
$1,300
$1,200
??? Total Liabilities and Shareholders' Equity
$6,000
??? Common Stock
$2,000 Retained Earnings
Based on the Budgeted Balance Sheet above, what should cash be?
Transcribed Image Text:Land Lords Inc. Budgeted Balance Sheet June 30 Liabilities and Shareholders' Equity Assets Cash Accounts Receivable Inventory Total Current Assets Equipment, net Total Assets ??? Accounts Payable $500 Total Current Liabilities $1,300 $3,500 $3,500 $1,300 $1,200 ??? Total Liabilities and Shareholders' Equity $6,000 ??? Common Stock $2,000 Retained Earnings Based on the Budgeted Balance Sheet above, what should cash be?
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