Question
he adjusted trial balance of Cullumber Company for the year ended December 31, 2022, is as follows: Debit Credit Cash $ 6,900 Accounts Receivable 2,800
he adjusted trial balance of Cullumber Company for the year ended December 31, 2022, is as follows:
Debit | Credit | |||
---|---|---|---|---|
Cash | $ 6,900 | |||
Accounts Receivable | 2,800 | |||
Notes Receivable | 7,100 | |||
Inventory | 9,500 | |||
Equipment | 8,300 | |||
Allowance for Doubtful Accounts | $ 400 | |||
Accumulated DepreciationEquipment | 1,400 | |||
Notes Payable | 1,400 | |||
Accounts Payable | 700 | |||
Common Stock | 16,800 | |||
Retained Earnings | 11,500 | |||
Dividends | 1,700 | |||
Sales Revenue | 15,000 | |||
Interest Revenue | 100 | |||
Cost of Goods Sold | 8,000 | |||
Salary and Wages Expense | 2,000 | |||
Rent Expense | 900 | |||
Bad Debt Expense | 70 | |||
Service Charge Expense | 30 | |||
$ 47,300 | $ 47,300 |
Attempts: 2 of 3 used
(a3)
Prepare a classified balance sheet. The notes payable is due on January 10, 2023. (List Current Assets in order of liquidity.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started