Preparing a Balance Sheet, Computing Net Income, and Understanding Equity Transactions

At the beginning of 2015, Barth Company reported the following balance sheet.

	Assets			Liabilities
	Cash	$3,600		Accounts Payable	$9,000
	Accounts Receivable	11,025		Equity
	Equipment	7,500		Common Stock	35,625
	Land	37,500		Retained Earnings	15,000
	Total Assets	$59,625		Total Liabilities and Equity	$59,625

Required a. At the end of 2015, Barth Company reported the following assets and liabilities: Cash, $6,600; Accounts Receivable, $13,800; Equipment, $6,750; Land, $37,500; and Accounts Payable, $5,625. Prepare a year-end balance sheet for Barth. (Hint: Report equity as a single total.)

BARTH COMPANY Balance Sheet Decemer 31, 2015
	Assets			Liabilities
	Answer

Answer

Answer

Answer
	Answer

Answer
	Equipment	Answer		Equity
	Land	Answer		Answer

Answer
	Answer

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Answer

b. Assuming that Barth did not issue any common stock during the year but paid $9,000 cash in dividends, what was its net income or net loss for 2015? $Answer

c. Assuming that Barth issued an additional $10,125 common stock early in the year but paid $15,750 cash in dividends before the end of the year, what was its net income or net loss for 2015? $Answer