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AE4-14 The adjusted trial balance for Wootton Bowling Alley at December 31, 2012, contains the following accounts. Debits Credits Building $127,460 Wootton, Capital $113,662 Accounts
AE4-14 The adjusted trial balance for Wootton Bowling Alley at December 31, 2012, contains the following accounts. Debits Credits Building $127,460 Wootton, Capital $113,662 Accounts Receivable 13,886 Accumulated Depreciation-Building 43,110 Prepaid Insurance 4,860 Accounts Payable 11,465 Cash 17,533 Note Payable 96,003 Equipment 61,908 Accumulated Depreciation-Equipment 18,553 Land 63,326 Interest Payable 2,506 Insurance Expense 641 Bowling Revenues 14,320 Depreciation Expense 7,277 $299,619 Interest Expense 2,728 $299,619 Prepare a classified balance sheet; assume that $13,264 of the note payable will be paid in 2013. (List assets in order of liquidity and liabilities from largest to smallest e.g. 10, 5, 3, 2.) WOOTTEN BOWLING ALLEY Balance Sheet Assets Current Assets $ Property, plant and equipment $ : : Total assets $ Liabilities and Owner's Equity Current Liabilities $ Total current liabilities Long-term liabilities Total liabilities Owner's equity Total liabilities and owner's equity $
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