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Below is an adjusted closing trail balance for Omar Corp prepared by a staff account Debit Credit Cash and cash equivalents $1.600 Accounts receivable 4,300
Below is an adjusted closing trail balance for Omar Corp prepared by a staff account Debit Credit Cash and cash equivalents $1.600 Accounts receivable 4,300 Allowance for uncollectible accounts 500 Inventories 8.200 Prepaid expenses 2,400 Investments 2,000 Equipment 18.000 Accumulated depreciation equipment 8,000 Franchise 12,000 Accounts payable $6.200 Note payable 8.000 Interest payable 400 Uneamed revenue 2,400 Bonds payable 7.000 Ordinary share capital $10,000 Retained earning 6.000 Equipment 18.000 Accumulated depreciation - equipment 8.000 Franchise 12,000 Accounts payable $6.200 Note payable 8.000 Interest payable 400 Uneamed revenue 2.400 Bonds payable 7,000 Ordinary share capital $10.000 Retained earnings 6.000 Additional information: 1. The investments represent treasury bills purchased in December that mature in January 2. Interest is payable anually 3. The note payable is due inual installments of $800 each year. 4. Uneared revene consists of 1.600 will be camed next year Required: Prepare a complete.corrected, classified statement of financial position
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