Hi. Thank you for helping people. I have a task to make a pro form for several years. I have questions. And I'm looking forward to your help. The questions are the following: 1. The difference between Total Assets ($16,576,496) and Total Liabilities & Equity ($16,850,744). Total Assets is less than Total Liabilities & Equity by $274,248. There is more money in Net Income. Where can this $274,248 be added to get a balance? 2. If the company plans to: a) invest $2,000,000 to purchase equipment through external borrowing. Where should these $2 million be recorded on the balance sheet, in what positions? c) a similar option, also invest $2 million, but using own funds or obtaining a loan from a shareholder. In this situation, where should these $2 million be recorded on the balance sheet, in what positions? Thanks.
Hi. Thank you for helping people.
I have a task to make a pro form for several years. I have questions. And I'm looking forward to your help.
The questions are the following:
1. The difference between Total Assets ($16,576,496) and Total Liabilities & Equity ($16,850,744). Total Assets is less than Total Liabilities & Equity by $274,248. There is more money in Net Income. Where can this $274,248 be added to get a balance?
2. If the company plans to:
a) invest $2,000,000 to purchase equipment through external borrowing. Where should these $2 million be recorded on the balance sheet, in what positions?
c) a similar option, also invest $2 million, but using own funds or obtaining a loan from a shareholder. In this situation, where should these $2 million be recorded on the balance sheet, in what positions?
Thanks.