Classic Designs, Inc.

Adjusted Trial Balance

December $31,2022$

Debit Credit

Cash $10,300$

Accounts receivable $6,630$

Supplies $900$

Prepaid insurance $2,200$

Equipment $12,200$

Truck $32,800$

Accumulated Depreciation $750$

Accounts payable $7,300$

Notes payable $24,000$

Wages payable $500$

Interest payable $200$

Common stock $27,900$

Retained earnings $$

Dividends $2,100$

Fees earned $22,230$

Rent expense $3,000$

Utilities expense $3,400$

Truck expense $1,300$

Miscellaneous expense $1,800$

Wages expense $4,500$

Depreciation $750$

Interest expense $200$

Insurance expense $200$

Supplies expense $600$

Total $77,68088,080$

Classic Designs, Inc.

Balance Sheet

As of December $31,2022$

Assets $$ Liabilities $$

Cash $ $10,300$ Accounts payable $ $7,300$

Accounts receivable $6,630$ Notes payable $24,000$

Supplies $900$ Wages payable $500$

Prepaid insurance $2,200$ Interest payable $200$

Total Current Assets $ $20,030$ Total Liabilities $ $32,000$

$$

Properyt, Plant & Equipment Stockholders' Equity $$

Equipment $ $12,200$ Common stock $ $27,900$

Truck $2,800$ Retained earnings $4,380$

Less: Accumulated Depreciation $(750)$ Total Stockholders' Equity $ $32,280$

$$ $ $24,250$

$$

Total Assets $ $44,280$ Total Liab & S$/$H Equity $ $64,280$

Identify Errors