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Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $580 wer declared at the end
Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $580 wer declared at the end of the year, and 550 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,200 in cash (for a total at the end of the year of 830 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit Credit Cash $ 1,540 Accounts receivable 2,240 Interest receivable 170 Prepaid insurance 1,690 Long-term notes receivable 2,990 Equipment 16,00 Accumulated depreciation $ 2,820 Accounts payable 2,260 Dividends payable Accrued expenses payable 3,810 Income taxes payable 2,680 Unearned rent revenue 470 Common Stock (830 shares) 83 Additional paid-in capital 3,517 Retained earnings 3,560 Sales revenue 37,550 Interest revenue Rent revenue Wages expense 18,700 Depreciation expense 1,720 Utilities expense 400 Insurance expense 750 Rent expense 9,080 Income tax expense 2,720 Total 558.000 358,000 580 25 110 560 Prepare a classified balance sheet for the end of the current year CATENA'S MARKETING COMPANY Balance Sheet Assets Current assets CATENA'S MARKETING COMPANY Balance Sheet Assets Current assets: Total current assets 0 Total assets Liabilities Current liabilities: Total current liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity 0 $ 0
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