The following information is available for Sandhill Inc. Accounts receivable $3,100 Cash $6,220 Accounts payable 4,200 Supplies 3,810 Interest payable 520 Unearned service revenue 920 Salaries and wages expense 4,500 Salaries and wages payable 900 Notes payable 33,000 Depreciation expense 780 Common stock 53,100 Equipment (net) 111,000 Inventory 2,850 Sandhill Inc. Balance Sheet December 31, 2025 Assets Cash Accounts Receivable Inventory Supplies Equipment Total Assets Liabilities Accounts Payable Interest Payable Salaries and Wages Payable Notes Payable Unearned Service Revenue Total Liabilities Stockholders' Equity Common Stock Total Stockholders' Equity Total Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity 4,200 520 900 33,000 920 53,100 6,220 3,100 2,850 3,810 111,000 126,980 39,540 53,100 92,640

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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Please solve for items circuled in RED. Thank you.

The following information is available for Sandhill Inc.
Accounts receivable
$3,100
Cash
$6,220
Accounts payable
4,200
Supplies
3,810
Interest payable
520
Unearned service revenue
920
Salaries and wages expense
4,500
Salaries and wages payable
900
Notes payable
33,000
Depreciation expense
780
Common stock
53,100
Equipment (net)
111,000
Inventory
2,850
Sandhill Inc.
Balance Sheet
December 31, 2025
Assets
Cash
Accounts Receivable
Inventory
Supplies
Equipment
Total Assets
Liabilities
Accounts Payable
Interest Payable
Salaries and Wages Payable
Notes Payable
Unearned Service Revenue
Total Liabilities
Stockholders' Equity
Common Stock
Total Stockholders' Equity
Total Liabilities and Stockholders' Equity
Liabilities and Stockholders' Equity
4,200
520
900
33,000
920
53,100
6,220
3,100
2,850
3,810
111,000
126,980
39,540
53,100
92,640
Transcribed Image Text:The following information is available for Sandhill Inc. Accounts receivable $3,100 Cash $6,220 Accounts payable 4,200 Supplies 3,810 Interest payable 520 Unearned service revenue 920 Salaries and wages expense 4,500 Salaries and wages payable 900 Notes payable 33,000 Depreciation expense 780 Common stock 53,100 Equipment (net) 111,000 Inventory 2,850 Sandhill Inc. Balance Sheet December 31, 2025 Assets Cash Accounts Receivable Inventory Supplies Equipment Total Assets Liabilities Accounts Payable Interest Payable Salaries and Wages Payable Notes Payable Unearned Service Revenue Total Liabilities Stockholders' Equity Common Stock Total Stockholders' Equity Total Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity 4,200 520 900 33,000 920 53,100 6,220 3,100 2,850 3,810 111,000 126,980 39,540 53,100 92,640
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