E-5-11 (LO3)BalanceSheet Preparation
Presented below is the adjusted trial balance of Kelly Corporation at December 31, 2017.
	Kelly Corporation
	Trial Balance
	December 31, 2017
		Debit	Credit
	Cash	$ ?
	Supplies	1,200
	Prepaid Insurance	1,000
	Equipment	48,000
	Accumulated Depreciation - Equipment		$ 4,000
	Trademarks	950
	Accounts Payable		10,000
	Salaries and Wages Payable		500
	Unearned Service Revenue		2,000
	Bonds Payable (due 2024)		9,000
	Common Stock		10,000
	Retained Earnings		25,000
	Service Revenue		10,000
	Salaries and Wages Expense	9,000
	Insurance Expense	1,400
	Rent Expense	1,200
	Interest Expense	900
	Total	?	?
	Additional information:
	1. Net loss for the year was $2,500.
	2. No dividends were declared during 2017.
Instructions:
Prepare a classified balance sheet as of December 31, 2017.
Calculation of cash balance:
Kelly Corporation
Balance Sheet
December 31, 2017
Assets
Liabilities and Stockholders Equity