accttt
Cclegg00
exercise_4-14.docExercise 4-14
The adjusted trial balance for Rego Bowling Alley at December 31, 2014, contains the following accounts.
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Debits |
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Credits |
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Buildings |
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$128,000 |
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Common Stock |
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$80,000 |
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Accounts Receivable |
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7,540 |
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Retained Earnings |
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28,000 |
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Prepaid Insurance |
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4,680 |
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Accumulated Depreciation—Buildings |
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42,600 |
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Cash |
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18,040 |
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Accounts Payable |
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12,300 |
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Equipment |
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62,400 |
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Notes Payable |
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95,000 |
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Land |
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67,000 |
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Accumulated Depreciation—Equipment |
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18,720 |
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Insurance Expense |
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780 |
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Interest Payable |
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2,600 |
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Depreciation Expense |
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7,360 |
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Service Revenue |
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19,180 |
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Interest Expense |
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2,600 |
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$298,400 |
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$298,400 |
Prepare a classified balance sheet; assume that $15,000 of the note payable will be paid in 2015. (List current assets in order of liquidity. Property, plant and equipment list in order of land, buildings and equipment.)
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REGO BOWLING ALLEY Balance Sheet December 31, 2014 |
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$
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$
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$
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:
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:
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$
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Liabilities and Stockholder's Equity |
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$
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$
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$
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