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Huang Resources showed the following alphabetized adjusted trial balance at October 31, 2020: Account Balance Accounts payable $ 19,800 Accounts receivable 27,900 Accumulated amortization, mineral
Huang Resources showed the following alphabetized adjusted trial balance at October 31, 2020:
Account | Balance | ||
Accounts payable | $ | 19,800 | |
Accounts receivable | 27,900 | ||
Accumulated amortization, mineral rights | 31,100 | ||
Accumulated amortization, trademark | 23,100 | ||
Accumulated depreciation, building | 82,300 | ||
Accumulated depreciation, equipment | 111,100 | ||
Allowance for doubtful accounts | 1,990 | ||
Sally Huang, capital | 222,610 | ||
Building | 148,600 | ||
Cash | 10,300 | ||
Equipment | 185,400 | ||
Expenses | 1,443,900 | ||
Land | 90,300 | ||
Mineral rights | 59,000 | ||
Note payable | 73,400 | ||
Revenues | 1,435,000 | ||
Trademark | 35,000 | ||
Other information:
- All accounts have normal balances.
- $38,700 of the note payable is due after October 31, 2021 Required: Prepare a classified balance sheet at October 31, 2020. (Be sure to list the assets and liabilities in order of their liquidity.)
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