Marsh Corporation began operations on January 1, 2014. The following information
ID: 2424688 • Letter: M
Question
Marsh Corporation began operations on January 1, 2014. The following information is available for Marsh Corporation on December 31, 2014.
MARSH CORPORATION
Balance Sheet
December 31, 2014
Assets
Liabilities and Stockholders' Equity
Accounts payable $ 9,080 Notes payable $ 15,160 Accounts receivable 6,080 Rent expense 14,080 Advertising expense 4,310 Retained earnings ? Cash 7,180 Service revenue 33,160 Common stock 19,080 Supplies 5,980 Dividends 6,580 Supplies expense 1,390 Equipment 30,880Prepare a balance sheet for Marsh Corporation. (List assets in order of liquidity.)
MARSH CORPORATION
Balance Sheet
December 31, 2014
Assets
$
Total Liabilities and Stockholders' EquityIntangible AssetsTotal Intangible AssetsLong-Term LiabilitiesTotal ExpensesTotal Property, Plant and EquipmentTotal LiabilitiesTotal RevenuesRevenuesTotal Long-term investmentsTotal Long-Term InvestmentsExpensesTotal Current LiabilitiesTotal Current AssetsStockholders' EquityTotal Long-Term LiabilitiesTotal AssetsTotal Long-term LiabilitiesTotal Stockholders' EquityLong-Term InvestmentsCurrent AssetsCurrent LiabilitiesNet Income / (Loss)Property, Plant and Equipment$
Liabilities and Stockholders' Equity
Total Property, Plant and EquipmentStockholders' EquityTotal RevenuesExpensesCurrent AssetsIntangible AssetsLong-Term LiabilitiesTotal Stockholders' EquityTotal Liabilities and Stockholders' EquityTotal Long-term investmentsLiabilitiesTotal Long-Term InvestmentsTotal Long-Term LiabilitiesLong-Term InvestmentsNet Income / (Loss)Property, Plant and EquipmentRevenuesTotal AssetsTotal ExpensesTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Long-term Liabilities
$
Intangible Assets Total Stockholders' Equity Total Liabilities Current Liabilities Long-Term Investments Total Expenses Total Assets Total Revenues Total Current Assets Current Assets Net Income / (Loss) Total Long-Term Liabilities Long-Term Liabilities Revenues Total Long-Term Investments Stockholders' Equity Property, Plant and Equipment Total Current Liabilities Expenses Total Intangible Assets Total Liabilities and Stockholders' Equity Total Long-term investments Total Long-term Liabilities Total Property, Plant and Equipment
$
Total AssetsTotal Current AssetsTotal Current LiabilitiesCurrent LiabilitiesTotal Long-Term LiabilitiesCurrent AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityExpensesTotal ExpensesIntangible AssetsTotal Intangible AssetsTotal RevenuesTotal Stockholders' EquityTotal Long-term investmentsTotal Long-term LiabilitiesNet Income / (Loss)Total Property, Plant and EquipmentStockholders' EquityProperty, Plant and EquipmentLong-Term InvestmentsLong-Term LiabilitiesTotal Long-Term InvestmentsRevenues
$
Expenses Total Property, Plant and Equipment Total Liabilities and Stockholders' Equity Intangible Assets Long-Term Investments Total Revenues Total Intangible Assets Total Current Assets Total Liabilities Current Liabilities Total Current Liabilities Total Long-term investments Total Long-term Liabilities Total Stockholders' Equity Total Long-Term Investments Current Assets Long-Term Liabilities Total Long-Term Liabilities Net Income / (Loss) Total Expenses Property, Plant and Equipment Revenues Stockholders' Equity Total Assets
Current LiabilitiesRevenuesExpensesIntangible AssetsLong-Term InvestmentsTotal Property, Plant and EquipmentTotal Long-Term LiabilitiesTotal Intangible AssetsStockholders' EquityNet Income / (Loss)Total LiabilitiesTotal Liabilities and Stockholders' EquityTotal AssetsTotal Current AssetsLong-Term LiabilitiesTotal Current LiabilitiesProperty, Plant and EquipmentTotal Long-term investmentsTotal ExpensesTotal Long-term LiabilitiesTotal Long-Term InvestmentsCurrent AssetsTotal RevenuesTotal Stockholders' Equity
Explanation / Answer
Assets
Cash $7,180
Account receivable 6,080
supplies 5,980
Equipment 30,880
total Assets $50,120
liabilities and stockholder's Equity
Account payable 9,080
Notes payable 15,160
Common stock 19,080
Retained earnings 6,800
Total $50,120
working notes:
Service revenue $33,160
less:Expense:
Advertising expnese 4,310
Rent expense 14,080
Supplies expense 1,390
Net income 13,380
Retained earnings
Opening balance $0
Add:Net income 13,380
less:dividends paid ( 6,580)
Closing balance of retained earnings $6,800
Assets
Cash $7,180
Account receivable 6,080
supplies 5,980
Equipment 30,880
total Assets $50,120
liabilities and stockholder's Equity
Account payable 9,080
Notes payable 15,160
Common stock 19,080
Retained earnings 6,800
Total $50,120
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.