Reference no: EM132870553
Problem - The account balances for White Corporation are listed below. All balances are as of December 31, 2019, except where noted otherwise.
Accounts Payable $16,500
Furniture & Fixtures $32,000
Accounts Receivable 4,500
Notes Payable (due 9/1/21) 20,000
Utility Expense 6,000
Advertising Expense 11,200
Projection Equipment 30,000
Dividends 2,000
Buildings 97,000
Rent Expense - movies 50,600
Common Stock ?
Retained Earnings (Jan. 1, 2019) 73,690
Cash 15,000
Salaries and Wages Expense 36,490
Concessions Revenue 56,200
Ticket Sales Revenue 93,500
Cost of Goods Sold (concessions) 17,800
Required -
a. Determine Total Assets as of December 31, 2019.
b. Determine Total Current Assets as of December 31, 2019.
c. Determine Total Liabilities as of December 31, 2019.
d. Determine Net Income for the year ending December 31, 2019.
e. Determine the balance of Common Stockon December 31, 2019.