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I don't know what I did wrong, please explain. Thank you kindly in advance. The adjusted trial balance columns of the worksheet for Sunland Company,
I don't know what I did wrong, please explain. Thank you kindly in advance.
The adjusted trial balance columns of the worksheet for Sunland Company, owned by C. Sunland, are as follows. Account No. 101 112 126 130 157 158 200 201 212 230 301 306 400 610 631 711 722 726 905 Sunland Company Worksheet For the Year Ended December 31, 2020 Adjusted Trial Balance Account Titles Dr. Cr. Cash 5,000 Accounts Receivable 10,900 Supplies 1,800 Prepaid Insurance 2,000 Equipment 26,600 Accumulated Depreciation-Equipment 5,000 Notes Payable 15,000 Accounts Payable 6,000 Salaries and Wages Payable 2,700 Interest Payable 700 Owner's Capital 12,900 Owner's Drawings 7,000 Service Revenue 60,200 Advertising Expense 8,500 Supplies Expense 3,900 Depreciation Expense 5,000 Insurance Expense 3,600 Salaries and Wages Expense 27,500 Interest Expense 700 Totals 102,500 102,500 Prepare a classified balance sheet. $3,750 of the notes payable become due in 2021. (List Current Assets in order of liquidity.) SUNLAND COMPANY Balance Sheet December 31, 2020 Assets Current Assets Cash $ 5,000 Accounts Receivable 10.900 Supplies 1,800 Prepaid Insurance 2,000 Total Current Assets V $ Property, Plant and Equipment Equipment 26,600 Less : Accumulated Depreciation Equipment 5,000 Total Assets $ Liabilities and Owner's Equity Current Liabilities Notes Payable $ 15,000 Accounts Payable 6,000 Salaries and Wages Payable 2,700 Interest Payable 700 Total Current Liabilities V $ Long-term Liabilities Notes Payable Total Long-term Liabilities Owner's Equity Owner's Capital Total Liabilities and Owner's Equity $
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