Fill in the Missing Amounts of the Following Balance Sheet

question 8

Essay

Fill in the missing amounts of the following balance sheet: $\begin{array}{c}\text { Prova Company }\\\text { Balance Sheet}\\\text { December 31, 2016}\\\begin{array}{|l|r|r|}\hline\text { Assets }\\\hline \text { Cash } & & \$ 3,300 \\\hline \text { Accounts Receivable } & & 2,400 \\\hline \text { Supplies } & & \mathbf{(a)} \\\hline \text { Inventory } & & 5,700 \\\hline \text { Equipment } & & 7,400 \\\hline \text { Land } & & 9,250 \\\hline \text { Total Assets } && \$ 32,550 \\\hline\text { Liabilities }\\\hline \text { Accounts Payable } & \$ 850 & \\\hline \text { Notes Payable } & \text { (b) } & \\\hline \text { Total Liabilities } & & \$ \quad \text { (c) } \\\hline \text { Stockholders' Equity }\\\hline \text { Common Stock } & \$ 18,500 & \\\hline \text { Retained Earnings } & 4,200 & \\\hline \text { Total Stockholders' Equity } & & 22,700 \\\hline \text { Total Liabilities and Stockholders' Equity } & & \underline{\underline{\$\quad (d)}} \\\hline\end{array}\end{array}$

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Definitions:

Economic Depression

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Taxes imposed by a government on imported goods to protect domestic industries or to generate revenue.

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The expansion or broadening of slavery as an institution or practice to new territories or regions.

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A global conflict that lasted from 1939 to 1945, involving most of the world's nations and resulting in significant geopolitical changes.