PURRFECT PETS, INC. Balance Sheet at June 30, Year 1 Assets       Liabilities       Cash $ 732,700   Accounts Payable $ 349,100   Accounts Receivable   419,300   Notes Payable due June 30, Year 3   268,900   Supplies   58,410   Total Liabilities   618,000   Equipment   118,600           Other Assets   69,410   Stockholders' Equity               Common Stock   662,000           Retained Earnings   118,420           Total Stockholders' Equity   780,420   Total Assets $ 1,398,420   Total Liabilities & Stockholders’ Equity $ 1,398,420     How much financing did the stockholders of Purrfect Pets, Inc., directly contribute to the company?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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PURRFECT PETS, INC.
Balance Sheet
at June 30, Year 1
Assets       Liabilities      
Cash $ 732,700   Accounts Payable $ 349,100  
Accounts Receivable   419,300   Notes Payable due June 30, Year 3   268,900  
Supplies   58,410   Total Liabilities   618,000  
Equipment   118,600          
Other Assets   69,410   Stockholders' Equity      
        Common Stock   662,000  
        Retained Earnings   118,420  
        Total Stockholders' Equity   780,420  
Total Assets $ 1,398,420   Total Liabilities & Stockholders’ Equity $ 1,398,420  
 


How much financing did the stockholders of Purrfect Pets, Inc., directly contribute to the company?

 

 
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