House of, Inc. (HTI), is a company that runs a service for high school and university students. The company reported the following amounts in its post-closing trial balance, prepared at the end of its first fiscal year, at August 31.

Accounts Payable	$	60
Accounts Receivable		220
Accumulated Depreciation		1,200
Cash		700
Common Stock		2,900
Equipment		12,000
Interest Payable		40
Notes Payable (long-term)		8,000
Retained Earnings		820
Supplies		100

The company encountered the following events during September:

1. HTI provided 100 hours of regular hourly at the rate of $20 per hour, all of which was collected in cash.
2. HTI paid at the hourly rate of $10 per hour. On September 28, HTI paid for 90 hours of time and promised to pay the remaining hours worked. TIP: The total hours of expense in b. should match the total hours of revenue in a.
3. HTI hosted an all-night review session on September 29 for , at a special price of $10 per attendee. Rather than collect cash at the time of the review session, HTI will send bills in October to the 75 people who attended the review session.
4. At the beginning of the night-long review session, HTI paid $200 cash to itsfor wages. No additional salaries and wages will be paid for the review session.
5. HTI collected $200 cash on account from students who received during the summer.
6. HTI also collected $250 cash from a high school for a session to be held in October.
7. HTI determined that depreciation for September should be $100.
8. Although HTI adjusted its accounts on August 31, it has not yet paid the $40 monthly interest owed on the promissory note, for either August or September. The note is due in three years.
9. HTI has only $40 of supplies left at September 30.
10. HTIs income taxes are approximately 30% of income before tax.

Prepare HTIs classified balance sheet at September 30. (Amounts to be deducted should be indicated by a minus sign.)

Answer is not complete. HOUSE OF TUTORS, INCORPORATED Balance Sheet At September 30 Assets Current Assets Cash $ Accounts Receivable Supplies 2,050 >> 770 40 Total Current Assets Equipment Accumulated Depreciation 2,860 12,000 (1,300) 10,700 13,560 Total Assets $ ==== E :: 1 Liabilities and Stockholders' Equity Current Liabilities 60 100 80 Accounts Payable Salaries and Wages Payable Interest Payable Income Tax Payable Deferred Revenue Total Current Liabilities Notes Payable (long-term) $ 405 250 895 8,000 Total Liabilities 8,895 Retained Earnings Common Stock Total Stockholders' Equity Total Liabilities and Stockholders' Equity 1,765 2,900 4,665 13,560 Answer is not complete. HOUSE OF TUTORS, INCORPORATED Balance Sheet At September 30 Assets Current Assets Cash $ Accounts Receivable Supplies 2,050 >> 770 40 Total Current Assets Equipment Accumulated Depreciation 2,860 12,000 (1,300) 10,700 13,560 Total Assets $ ==== E :: 1 Liabilities and Stockholders' Equity Current Liabilities 60 100 80 Accounts Payable Salaries and Wages Payable Interest Payable Income Tax Payable Deferred Revenue Total Current Liabilities Notes Payable (long-term) $ 405 250 895 8,000 Total Liabilities 8,895 Retained Earnings Common Stock Total Stockholders' Equity Total Liabilities and Stockholders' Equity 1,765 2,900 4,665 13,560