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Intermediate accounting 1 please help Presented below is the adjusted trial balance of Kelly Corporation at December 31, 2020. Instructions: Prepare a classified balance sheet
Intermediate accounting 1 please help
Presented below is the adjusted trial balance of Kelly Corporation at December 31, 2020. Instructions: Prepare a classified balance sheet as of December 31, 2020. Kelly Corporation Balance Sheet December 31, 2020 Credit Assets Current assets Cash 4,000 Total current assets Kelly Corporation Trial Balance December 31, 2020 , Debit Cash $ ? Supplies Inventory 1,200 Prepaid Insurance 1,000 Investments (available for sale) 1,500 Equity Investments 10,200 Equipment 48,000 Accumulated Depreciation - Equipment Trademarks 950 Accounts Payable Salaries and Wages Payable Notes Payable (due 2022) Unearned Service Revenue Bonds Payable (due 2027) Common Stock Retained Earnings* (see Additional Information below for current year loss) Service Revenue Salaries and Wages Expense 9,000 Insurance Expense 1,400 Rent Expense 1,200 Interest Expense 900 Total $ $ ? Long-term investments Property, plant, and equipment 10,000 3,200 3,000 2,000 9,000 10,000 25,000 10,000 Less: Accumulated depreciation"equipment 4,000 (4,000) Intangible assets Total assets (4,000) Liabilities and Stockholders Equity Current liabilities $ ? *Additional information: 1. Net loss for the year was $2,500. 2. No dividends were declared during 2020. Total current liabilities Long-term liabilities Total liabilities Stockholders equity Common Stock Retained Earnings Total stockholders equity Total liabilities and stockholdersTM equity 10,000 10,000 10,000Step by Step Solution
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