Prepare a balance sheet as of June 30, 20Y9. Big Mountain Realty Inc. Balance Sheet

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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After its first month of operations, the following amounts were taken from the accounting records of Big Mountain Realty Inc. as of June 30, 20Y9.

Cash $116,600   Notes payable $77,000
Common stock 55,000   Rent expense 11,000
Dividends 22,000   Retained earnings 0
Interest expense 4,400   Salaries expense 165,000
Land 92,400   Sales commissions 319,000
Miscellaneous expense 6,600   Utilities expense 33,000

Prepare a balance sheet as of June 30, 20Y9.

Big Mountain Realty Inc.
Balance Sheet
June 30, 20Y9
Assets
    $
     
Total assets   $
Liabilities
    $
Stockholders' Equity
  $  
     
Total stockholders' equity    
Total liabilities and stockholders' equity   $
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