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9:22 PM Tue Feb 8 BusinessCourse mybusinesscourse.com Return to course Question 4 Partially correct Mark 4.31 out of 6.25- Flag question Statement of Stockholders' Equity and Balance Sheet The following is balance sheet information for House Janitorial Service, Inc., at the end of 2016 and 2015: December 31, December 31, 2016 2015 Accounts Payable $6,000 $9,000 Cash 27,000 19,000 Accounts Receivable 42,000 33,000 Land 40,000 40,000 Building, net 250,000 260,000 Equipment, net 43,000 45,000 Mortgage Payable 110,000 120,000 Supplies 20,000 18,000 Common Stock 219,000 219,000 Dividends 10,000 0 Retained Earnings 7 Required a. Prepare a balance sheet as of December 31 of each year. HOUSE JANITORIAL SERVICE, INC. Balance Sheets December 31, December 31, Cash ASSETS Accounts Receivable Supplies Land Building, net Equipment, net 2016 2015 27,000 $ 19,000 42,000 33,000 20,000 18,000 40,000 40,000 250,000 260,000 43,000 45,000 $422,000 $415,000 Total Assets LIABILITIES Accounts Payable Mortgage Payable Total Liabilities 5 6,000 $ 9,000 110,000 116,000 120,000 129,000 STOCKHOLDERS EQUITY Common Stock = 220,000 x 220,000 x 303.0003 02.000 EBusinessCourse W Return to course a. Prepare a valatice Sheet as of December 31 or each year. HOUSE JANITORIAL SERVICE, INC. Balance Sheets December 31, December 31, ASSETS 2016 2015 Cash Accounts Receivable 27,000 $ 19,000 42,000 33,000 Supplies Land Building, net 20,000 18,000 40,000 40,000 250,000 260,000 Equipment, net Total Assets 43,000 45,000 $422,000 $ 415,000 LIABILITIES Accounts Payable 6,000 $ 9,000 Mortgage Payable Total Liabilities 110,000 120,000 116,000 129,000 STOCKHOLDERS' EQUITY Common Stock 220,000 x 220,000 x Retained Earnings 102,000 x 87,000 x Total Stockholders' Equity 306,000 286,000 Total Liabilities and Stockholders' Equity $422,000 $415,000 b. Prepare a statement of stockholders' equity for 2016. (Hint: The increase in retained earnings is HOUSE JANITORIAL SERVICE, INC. Statement of Stockholders' Equity For Year Ended December 31, 2016 CommonStock RetainedEarnings Total Balance, December 31, 2015 $ 0x $ 0x Add: Net income for 2016 0 x 0x Less: Dividends for 2016(Enter as negative) Balance, December 31, 2016 0 0x 0x $ 0x $ 0 x 5 0x Check Partially correct Marks for this submission: 4.31/6.25. Previous Save Answers

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