E5-11B (Balance Sheet Preparation) Presented below is the adjusted trial balance of De Young Corporation at December 31, 2014.
mujionostevoE5-11B (Balance Sheet Preparation) Presented below is the adjusted trial balance of De Young Corporation at December 31, 2014.
Debits Credits
Cash $ ?
Office Supplies 2,640
Prepaid Insurance 2,200
Equipment 105,600
Accumulated Depreciation—Equipment $ 8,800
Trademarks 2,090
Accounts Payable 22,000
Salaries and Wages Payable 1,100
Unearned Service Revenue 4,400
Bonds Payable, due 2019 19,800
Common Stock 22,000
Retained Earnings 55,000
Service Revenue 22,000
Salaries and Wages Expense 19,800
Insurance Expense 3,080
Rent Expense 2,640
Interest Expense 1,980
Total $ ? $ ?
Additional information:
1. Net loss for the year was $5,500.
2. No dividends were declared during 2014.
Instructions
Prepare a classified balance sheet as of December 31, 2014.
13 years ago
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