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From the below partially adjusted trial balance: a. Prepare the Classified Balance Sheet [2marks] Chocolate Inc. Adjusted Trail Balance 31-Dec-22 Cash 6,500 Accounts receivable 4,400
From the below partially adjusted trial balance:
a. Prepare the Classified Balance Sheet [2marks] Chocolate Inc. Adjusted Trail Balance
31-Dec-22 | ||
Cash | 6,500 | |
Accounts receivable | 4,400 | |
Spare parts supply | 29,000 | |
Prepaid insurance | 2,400| | |
Short term investment | 2,100 | |
Notes receivable | 18,000| | |
Land value (not in use) | 48,000 | |
Land value (in use) | 73,200| | |
Buildings (in use) | 170,000 | |
Depreciation, Buildings | 45,000 | |
Store Equipment | 33,200 | |
Depreciation, store equipment | 8,000 | |
Trademark | 10,000 | |
Accounts payable | 15,300 | |
Salaries payable | 3,200 | |
Unearned revenue | 3,000 | |
Long term notes payable | 1,57,500 | |
Owner's capital | 1,04,000 | |
Owner's withdrawal 71,200 | ||
Owners' investment | 5,800 | |
Note: $7500 of the notes payable balance will be paid during next year. |
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