Balance Sheet - three (3) questions Instructions: Please prepare a Balance Sheet on your scratch paper based on the following Partial Adjusted Trial Balance. Use this Balance Sheet to answer this question and the next two questions. You will need to know the amounts for total assets, total current assets, and total stockholders' equity. Adjusted Trial Balance As of 12/31/20xx Accounts Account Balances Cash $20.975 Accounts Receivable 28,000 Allowance for Uncollectible 4,000 Accounts Prepaid Rent 35.000 Equipment 40,163 Accumulated Depreciation 10,000 Accounts Payable 10,975 Deferred Revenue 10,000 Common Stock 30.000 Retained Earnings 10,000 Dividends 3.000 Service Revenue 65.163 Sales Discounts 1,000 Rent Expense 4.000 Interest Expense 4,000 Income Tax Expense 4,000 Question:Based on the Partial Trial Balance and Additional Info shown below, what is the amount of the Total Assets shown on the Balance Sheet you prepared on your scratch paper? Additional Information: Net Income After-taxes for the Accounting Period equaled $52,163 Beginning Balance of Common Stock on 1/1/20xx $30,000 Beginning Balance of Retained Earnings on 1/1/20xx $10,000 No new stock was issued during the accounting period. Hint: Please remember the formula for retained earnings when preparing this statement. Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 Balance Sheet Question: Based on the Balance Sheet you prepared on your scratch paper, what is amount of the Total Current Assets shown on the Balance Sheet you prepared on your scratch paper? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 Balance Sheet Question: Based on the Balance Sheet you prepared on your scratch paper, what is amount of the Total Stockholders' Equity shown on the Balance Sheet you prepared on your scratch paper? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123
