Question
Natalie had a very busy December. At the end of the month, after journalizing and posting the December transactions and adjusting entries, Natalie prepared
Natalie had a very busy December. At the end of the month, after journalizing and posting the December transactions and adjusting entries, Natalie prepared the following adjusted trial balance. COOKIE CREATIONS Adjusted Trial Balance December 31, 2021 Debit Credit Cash Accounts Receivable Supplies Prepaid Insurance Equipment $940 700 280 970 1,000 Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable $30 60 45 Interest Payable 10 Unearned Service Revenue Notes Payable 240 1,600 Owner's Capital 640 Owner's Drawings 400 Service Revenue 3,650 Salaries and Wages Expense 805 Utilities Expense 100 Advertising Expense 130 . Supplies Expense 820 Depreciation Expense 30 Insurance Expense 90 Interest Expense 10 $6,275 $6,275 Using the information in the adjusted trial balance, do the following. Prepare a classified balance sheet at December 31, 2021. The note payable has a stated interest rate of 6%, and the principal and interest are due on November 16, 2023. (List Current Assets in order of liquidity.) < COOKIE CREATIONS Balance Sheet 0 Assets $ Liabilities and Owner's Equity
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