Question
Gazam corporations adjusted trial balance at December 31, 20x6 included the following Cash 26,000 Account receivable 50,000 Allowance for doubtful account 5,000 Merchandise inventory 41,000
Gazam corporations adjusted trial balance at December 31, 20x6 included the following
Cash 26,000
Account receivable 50,000
Allowance for doubtful account 5,000
Merchandise inventory 41,000
Land 50,000
Equipment 96,000
Accumulated depreciation 16,000
Account payable 115000
Income taxes payable 5,000
Unearned rent 15,000
Common stock ($10 par 10,000 shares) 150,000
Retained earnings 60,000
Sales 90,000
Interest revenue 4,000
Cost of goods sold 90,000
Selling expense 30,000
Administrative expense 40,000
Income tax expense 12,000
Loss on sale of equipment 10,000
Dividends declared 15,000
460,000 460,000
Prepare a balance sheet at December 31, 20x6, in good form.
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