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Exercise 5-11 Presented below is the adjusted trial balance of Vaughn Corporation at December 31, 2017. Debit Credit Cash $? Supplies 1,470 Prepaid Insurance 1,270

Exercise 5-11

Presented below is the adjusted trial balance of Vaughn Corporation at December 31, 2017.

Debit Credit
Cash $?
Supplies 1,470
Prepaid Insurance 1,270
Equipment 48,270
Accumulated Depreciation-Equipment $4,270
Trademarks 1,220
Accounts Payable 10,270
Salaries and Wages Payable 770
Unearned Service Revenue 2,270
Bonds Payable (due 2024) 9,270
Common Stock 10,270
Retained Earnings 25,270
Service Revenue 10,270
Salaries and Wages Expense 9,270
Insurance Expense 1,670
Rent Expense 1,470
Interest Expense 1,170
Total $? $?

Additional information:

1. Net loss for the year was $3,310.
2. No dividends were declared during 2017.

Prepare a classified balance sheet as of December 31, 2017.(List Current Assets in order of liquidity.)

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