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Jack Tasker, financial officer of Gulf Corp., showed the following unadjusted account balances at July 31, 2014, its year end. Other information: There was one
Jack Tasker, financial officer of Gulf Corp., showed the following unadjusted account balances at July 31, 2014, its year end. Other information: There was one reconciling item on the bank reconciliation : an NSF cheque for $1,900. A review of the Prepaid Rent account showed that the balance represents rent for two months beginning July 1, 2014 Annual depreciation on the equipment is $3,930. Annual depreciation on the automobiles is $3,360. Use this information to prepare the July 31, 2014 classified balance sheet. (select one) Balance Sheet (select one) Account Accounts payable Accounts receivable Accumulated depreciation, automobiles Accumulated depreciation, equipment Automobiles Bonds payable (due October, 2020) Cash Commissions earned Dividends Equipment Income taxes expense Income taxes payable. Insurance expense Intorontoornnd Balance 7,400 15,600 29,710 35,020 40,410 23,100 12,200 17,300 2,500 51,120 100 100 5,700 Bonds payable (due October, 2020). Cash Commissions earned Dividends Equipment Income taxes expense Income taxes payable. Insurance expense Interest earned Interest payable Land Long-term notes payable Notes receivable (due October, 2014). Patents Petty cash Prepaid rent Property taxes expense Rent earned Rent expense Retained earnings Salaries expense Share capital Short-term notes payable... 23,100 12,200 17,300 2,500 51,120 100 100 5,700 11,600 9,100 12.500 10,800 17,800 5,800 5,900 21,200 5,900 14,800 9,000 34,800 4,500 1,100 15,400
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