Heckle Group began operations as an engineering consulting firm, on June 1 2008 On that date it issued 100,000 shares of common stock for 920,000 During June, Heckle used 600,000 of the proceeds to purchase office space and office equipment It acquired a patent for 120,000, agreeing to pay the sell...

Heckle Group preparation of simple balance sheet curren ...

Heckle Group began operations as an engineering consulting firm, on June 1. 2008. On that date it

Question:

Heckle Group began operations as an engineering consulting firm, on June 1. 2008. On that date it issued 100,000 shares of for €920,000. During June, Heckle used €600,000 of the proceeds to purchase office space and office equipment. It acquired a patent for €120,000, agreeing to pay the seller within 30 days. On June 30 Heckle signed a bank loan for €400,000, bearing interest at 8% per year and paab1e in full on June 30, 2011. Prepare, in good format. Heckle’s as of June 30. 2008

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...