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An unclassified balance sheet does not provide any sub-classifications of assets, liabilities, or equity . Instead, this reporting format simply lists all normal line items
An unclassified balance sheet does not provide any sub-classifications of assets, liabilities, or equity. Instead, this reporting format simply lists all normal line items found in a balance sheet in their order of liquidity, and then presents totals for all assets, liabilities, and equity.
Using the adjusted trial balance below, produce an Unclassified Balance Sheet. Common stock Retained earnings Dividends Sales Sales discount Sales returns and allowances Cost of goods sold Depreciation expense- Store equipment Depreciation expense-Olfice equipment Sales Salaries expense Oifice salaries expense Insurance expense: Rent expense-Selling space Rent expense - Office spare Store supplies expense 20,000 59,000 10,000 5,0006,000159,9004,1001,60030,00034,00016,000 7,200 5,750 Depreciation expense - Office equipment Sales Salaries expense Office salaries expense Insurance expense Rent expense- Selling space Rent expense - Office space Store supplies expense Advertising expense Totals 1,600 30,000 34,000 11,000 16,800 7.200 5,750 31,400 $449.850 $449.850 Step by Step Solution
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