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I can not find accumulated depreciation. Please help! :) Required information M4-14 through M4-17 Reporting an Income Statement, Reporting a Statement of Retained Earnings, Reporting
I can not find accumulated depreciation. Please help! :)
Required information M4-14 through M4-17 Reporting an Income Statement, Reporting a Statement of Retained Earnings, Reporting a Balance Sheet and Recording Closing Journal Entries [LO 4.4, LO 4-5) [The following information applies to the questions displayed below.) The Sky Blue Corporation has the following adjusted trial balance at December 31 Credit Debit $ 1.390 3.600 3,900 4,600 20,000 Cash Accounts Receivable Prepaid Insurance Noten Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense Total $ 5,800 7,020 1,800 4,500 920 4,000 1.640 460 56, 430 460 24.800 2,900 5,820 3,000 7,600 4,500 $82,570 $82,570 1. Prepare a classified balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) SKY BLUE CORPORATION Balance Sheet At December 31 Assets Current Assets Cash Accounts Receivable Prepaid Insurance $ 1,390 3,600 3,900 8,890 4,600 Total Current Assets Notes Receivable (long-term) Equipment Accumulated Depreciation Total Assets $ 20,000 33,490 46.980 $ Liabilities $ Current Liabilities Income Taxes Payable Accounts Payable Salaries and Wages Payable Deferred Revenue 4,500 7,020 1,800 920 14,240 Total Current Liabilities Stockholders' Equity Common Stock Retained Faminas 4,000 9450 $ 20,000 [Equipment Accumulated Depreciation Total Assets 33,490 46,980 $ Liabilities $ Current Liabilities Income Taxes Payable Accounts Payable Salaries and Wages Payable Deferred Revenue 4,500 7,020 1,800 920 14,240 Total Current Liabilities Stockholders' Equity Common Stock 4,000 9,450 Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 13,450 27,690 $ Step by Step Solution
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