Answered step by step
Verified Expert Solution
Question
1 Approved Answer
accounts payable $10,600 accounts receivable $11,100 accumulated depreciation $24,000 advertising expense $19,600 cash $46,500 common stock $30,000 cost of goods sold 355,500 dividends 5,000 depreciation
accounts payable | $10,600 |
accounts receivable | $11,100 |
accumulated depreciation | $24,000 |
advertising expense | $19,600 |
cash | $46,500 |
common stock | $30,000 |
cost of goods sold | 355,500 |
dividends | 5,000 |
depreciation expense | 9,000 |
equipment | 175,000 |
income tax expense | 19,875 |
income tax payable | - |
insurance expense | 4,500 |
interest expense | 3,600 |
interest revenue | 2,500 |
inventory | 29,000 |
notes payable (due in 9 months) | 15,000 |
prepaid insurance | 3,625 |
rent expense | 24,000 |
retained earnings (beg. bal) | 91,000 |
salaries expense -gen/admin | 20,000 |
salaries expense-selling | 34,000 |
sales revenue | 605,100 |
utilities expense | 18,000 |
What would the classified balance sheet in good form look like?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started