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demonstration problem. please provide the aswer with full working note. DEMONSTRATION PROBLEM The partial adjusted trial balance for Westside Appliance Repair shows the following account
demonstration problem.
DEMONSTRATION PROBLEM The partial adjusted trial balance for Westside Appliance Repair shows the following account balances as at December 31, 2014. Debit Credit $ 2,825 33,000 101 Cash..... $ 15,000 106 Accounts receivable 22,665 124 Spare parts supplies... 5,800 128 Prepaid insurance. 8,700 141 Notes receivable 36,900 163 Office equipment.... 12,510 164 Accumulated depreciation, office equipment... 173 Building... 129,000 174 Accumulated depreciation, building. 183 Land 55,000 191 Patent..... 11,500 193 Franchise 26,000 201 Accounts payable.. 209 Salaries payable 230 Unearned fees.. 251 Long-term notes payable" 301 Brian Westside, capital.. 302 Brian Westside, withdrawals. 72,000 The note receivable is due to be collected May 1, 2016, *$22,000 of the December 31, 2014, balance in notes payable will be paid during 2015, Brian Westside, the owner, Invested $5,000 during the accounting period. Required HER * 16,500 26,300 7,600 142,000 104,000 9 12 13 14 15 16 . $ 2,825 33,000 112131415608 10 11 124 Spare parts supplies 5,800 128 Prepaid Insurance 8,700 141 Notes receivable 36,900 163 Office equipment.... 12,510 164 Accumulated depreciation, office equipment. 173 Building 129,000 174 Accumulated depreciation, building 183 Land 55,000 191 Patent.. 11,500 193 Franchise 26,000 Accounts payable... Salaries payable 230 Unearned fees.... 251 Long-term notes payable" 301 Brian Westside, capital 302 Brian Westside, withdrawals. 72,000 The note receivable is due to be collected May 1, 2016. $22,000 of the December 31, 2014, balance in notes payable will be paid during 2015. Brian Westside, the owner, invested $5,000 during the accounting period. Required 201 209 16,500 26,300 7,600 142,000 104,000 Using the information provided above for Westside Appliance Repair, 1. Prepare a classified balance sheet at December 31, 2014. For simplicity, Westside Appliance lists accounts on the balance sheet in account order please provide the aswer with full working note.
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