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Could use some help with preparing a balance sheet for the following data. Not sure if what is labeled already is correct, so please feel
Could use some help with preparing a balance sheet for the following data. Not sure if what is labeled already is correct, so please feel free to make changes!
The Gorman Group End-of-Period Spreadsheet For the Year Ended October 31, 2049 Adjusted Trial Balance Account Title Dr. Cr. Cash $14,730 Accounts Receivable 32,060 Supplies 5,010 Prepaid Insurance 10,820 Land 114,000 Buildings 410,000 Accumulated Depreciation-Buildings 133,500 Equipment 296,000 Accumulated Depreciation-Equipment 173,800 Accounts Payable 37,930 Salaries Payable 3,760 Unearned Rent 1,700 Common Stock 170,000 Retained Earnings 316,900 Dividends 28,500 Service Fees 540,830 Rent Revenue 5,710 Salaries Expense 387,720 Depreciation Expense-Equipment 21,000 Rent Expense 17,600 Supplies Expense 12,470 Utilities Expense 11,270 Depreciation Expense-Buildings 7,520 Repairs Expense 6,210 Insurance Expense 3,410 Miscellaneous Expense 5,810 1,384,130 1,384,130 The Gorman Group Balance Sheet October 31, 2049 Assets Liabilities Current assets: Current liabilities: Cash Accounts payable Accounts receivable Salaries payable Supplies Unearned rent Prepaid insurance Total liabilities Total current assets Property, plant, and equipment: Stockholders' Equity Land Common stock Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Book value-equipment Total property, plant, and equipment Total stockholders' equity Total assets Total liabilities and stockholders' equity
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