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Fill in the Missing Amounts of the Following Balance Sheet

Question 85

Essay

Fill in the missing amounts of the following balance sheet:  Prova Company  Balance Sheet December 31, 2016 Assets  Cash $3,300 Accounts Receivable 2,400 Supplies (a) Inventory 5,700 Equipment 7,400 Land 9,250 Total Assets $32,550 Liabilities  Accounts Payable $850 Notes Payable  (b)  Total Liabilities $ (c)  Stockholders’ Equity  Common Stock $18,500 Retained Earnings 4,200 Total Stockholders’ Equity 22,700 Total Liabilities and Stockholders’ Equity $(d)\begin{array}{c}\text { Prova Company }\\\text { Balance Sheet}\\\text { December 31, 2016}\\\begin{array}{|l|r|r|}\hline\text { Assets }\\\hline \text { Cash } & & \$ 3,300 \\\hline \text { Accounts Receivable } & & 2,400 \\\hline \text { Supplies } & & \mathbf{(a)} \\\hline \text { Inventory } & & 5,700 \\\hline \text { Equipment } & & 7,400 \\\hline \text { Land } & & 9,250 \\\hline \text { Total Assets } && \$ 32,550 \\\hline\text { Liabilities }\\\hline \text { Accounts Payable } & \$ 850 & \\\hline \text { Notes Payable } & \text { (b) } & \\\hline \text { Total Liabilities } & & \$ \quad \text { (c) } \\\hline \text { Stockholders' Equity }\\\hline \text { Common Stock } & \$ 18,500 & \\\hline \text { Retained Earnings } & 4,200 & \\\hline \text { Total Stockholders' Equity } & & 22,700 \\\hline \text { Total Liabilities and Stockholders' Equity } & & \underline{\underline{\$\quad (d)}} \\\hline\end{array}\end{array}

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a) $4,500
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