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Balance Sheet - three (3) questions - This problem does NOT build on the preceding problems, the numbers in the Unadjusted Trial Balance are
Balance Sheet - three (3) questions - This problem does NOT build on the preceding problems, the numbers in the Unadjusted Trial Balance are different. Instructions: Please prepare a Balance Sheet on your scratch paper based on the following Unadjusted Trial Balance and Additional Information below to answer this question and the next two (2) questions. You will need to know the amounts for total assets, total liabilities, and total stockholders' equity to answer the next three (3) questions. (Hint: you may also want to prepare a new Income Statement and Statement of Stockholders' Equity before preparing the Balance Sheet to make sure you have the necessary information for the Balance Sheet account balances.) Unadjusted Trial Balance As of 12/31/20xx Accounts Debit Credit Cash $20,517 Prepaid Rent 3,000 Accounts 6,000 Receivable Equipment 18,000 Deferred Revenue $4,000 Notes Payable 10,000 Common Stock 8,000 Retained Earnings 10,000 Revenue 20.517 Rent Expense 1,000 Salaries Expense 3,000 Utility Expense 1,000 Totals $50,517 $50,517 MacBook Pro Q Search or enter website name 85 $ % 54 #3
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