Question: What is the balance sheet for this data below? Stonewall Company went into business on July 1.2012. During 2012. Stonewall had the following transactions: July

What is the balance sheet for this data below?

What is the balance sheet for this data below? Stonewall Company went

Stonewall Company went into business on July 1.2012. During 2012. Stonewall had the following transactions: July 1 - Issued lac shares of stock to stockholders for a total of $10,000 in cash. July 1 - Borrowed $12,000 from the bank. Churchill will pay nothing until July 1,2014, and then the company will pay $14,000. Sept 1 - Bought land for 8.000 in cash. Oct 1 - Bought equipment for $9,000 in cash. The equipment has an expected useful life of three years and no salvage value. Oct 12 - Bought inventory for S&UU0. one-half in cash and one-half on account. Nov. 1 - Paid $1,800 for six months of insurance. Nov. 18 - Sold $2.500 of inventory for $6.000 in cash. Nov. 25 - Sold one-half of land for $4,500 in cash. Nov. 30 - Paid accounts payable. Dec. 1 - Received $1.000 for work that wit be done in January. 2013. Dec. 16 - Sold $1,000 of inventory for $2.000 on account Dec. 31 - Paid a dividend of $2.000 in cash

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