Fin3330.docx - 2 The Balance Sheet This lesson will help...

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2. The Balance SheetThis lesson will help you refresh your knowledge on the basics of the balancesheet. Brushing up on these concepts now will help you tackle your finance coursework later. Press play to watch the first presentation below. Click on the numbers to navigate through the lesson, and then complete the Concept Check at the end to cement your skills and receive credit.General Ledger for XYZ CompanyThe following is a portion of the general ledger for XYZ Company as of December 31, 20X1, and the statement of stockholders' equity for XYZ Company for the year ended December 31, 20X1. Use this information to answer questions (1) through (5).XYZ CompanyStatement of Stockholders' Equity (partial)For the year ended December 31, 20X1Common Stock Retained EarningsBalance at January 1, 20X1$50,000$63,000Issuance of common stock32,000+ Net income for the year ended 12/31/X114,000- Dividends paid(4,900)Balance at December 31, 20X1$_______$_______XYZ CompanyGeneral Ledger (partial)As of December 31, 201X

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