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Hi, I need help preparing a classified balance sheet as of Jan 1st 2022 for current assets. Please advise. WHISPERING WINDS COMPANY Adjusted Trial Balance
Hi,
I need help preparing a classified balance sheet as of Jan 1st 2022 for current assets.
Please advise.
WHISPERING WINDS COMPANY Adjusted Trial Balance January 31,2022 Accounts Receivable \begin{tabular}{ll} Debit \\ \hline 16273 \\ \hline \end{tabular} Credit Allowance for Doubtful Accounts 1482 Imventory Accounts Payable 10800 Common Stock Retained Earnings 14300 Notes Receivable 1200 Sales Revenue 29800 Cost of Goods Sold 20800 Supplies 500 Other Operating Expenses 4100 Interest Receivable 8 Interest Revenue 8 Bad Debts Expense 1082 Supplies Expense 700 Service Charge Expense 27 WHISPERING WINDS COMPANY Income Statement For the Month Ending January 31, 2022 V \begin{tabular}{|l|} \hline Sales Revenue \\ \hline Cost of Goods Sold \\ \hline \end{tabular} Operating Expenses Bad Debts Expense $1082 Supplies Expense 700 i Service Charge Expense 27 i \begin{tabular}{|l|} \hline Other Operating Expenses \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline & 4100i \\ \hline \end{tabular} Total Operating Expenses Income From Operations v Other Revenues and Gains Interest Revenue WHISPERING WINDS COMPANY Retained Earnings Statement For the Month Ending January 31, 2022 Retained Earnings, January 1 Add : Net Income / (Loss) 3099 Retained Earnings, January 31 Prepare a classified balance sheet as of January 31, 2022. (List current assets in order of liquidity.) WHISPERING WINDS COMPANY Balance Sheet January 31,2022 Assets Liabilities and Stockholders' Equity $ $Step by Step Solution
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