Exercise 4-13

At the end of its fiscal year, the adjusted trial balance of Wildhorse Company is as follows: - Prepare a statement of owners equity for the year. Mr. Wildhorse invested $5,000 cash in the business during the year. (List items that increase owner's equity first.) - Prepare a classified balance sheet at July 31, 2017. (List Current Assets in order of liquidity.)

Credit Exercise 4-13 At the end of its fiscal year, the adjusted trial balance of Wildhorse Company is as follows: WILDHORSE COMPANY Adjusted Trial Balance July 31, 2017 Debit Cash $4,390 Accounts receivable 11,420 Prepaid rent 500 Supplies 750 Debt investments 8,000 Equipment 19,950 Accumulated depreciation-equipment $5,700 Patents 18,300 Accounts payable 4,305 Interest payable 750 Unearned revenue 2,050 Notes payable (due on July 1, 2019) 46,000 B. Wildhorse, capital 28,285 B. Wildhorse, drawings 16,600 Service revenue 74,200 Interest revenue 320 Depreciation expense 2,850 Interest expense Rent expense Salaries expense Supplies expense 3,000 18,550 36,450 20,850 $161,610 $161,610 WILDHORSE COMPANY Income Statement $ > > $ Liabilities and Owner's Equity > > (