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NEED HELP Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $580 were declared at
NEED HELP Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $580 were declared at the end of the year, and 640 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,560 in cash (for a total at the end of the year of 830 shares). These effects are included below: Credit catena's Marketing company Adjusted Trial Balance End of the Current Year Debit Cash $ 1,660 Accounts receivable 2,320 Interest receivable 260 Prepaid insurance 1,740 Long-term notes receivable 2,830 Equipment 15,400 Accumulated depreciation Accounts payable Dividends payable Accrued expenses payable Income taxes payable Unearned rent revenue Common Stock (830 shares) Additional paid-in capital Retained earnings Sales revenue Interest revenue Rent revenue $ 2,800 2,380 580 3,840 2,610 460 83 3,497 3,420 37,450 190 580 n Wages expense Depreciation expense Utilities expense Insurance expense Rent expense Income tax expense Total 18,700 1,710 340 730 9,490 2,710 $ 57,890 $ 57,890 Prepare a classified balance sheet for the end of the current year. Balance Sheet Assets $ 2,320 Current assets: Accounts receivable Interest receivable Prepaid insurance Cash 260 > 1.740 1.660 Total current assets Equipment (net of accumulated depreciation) 5,980 Liabilities Current liabilities: $ 2.380 Accounts payable Dividends payable Accrued expenses payable Income taxes payable 580 3,840 2,610 Uneamed rent revenue Total current liabilities 460 9,870 83 3.497 7,960 O Total stockholders' equity Total liabilities and stockholders' equity 11.540 21,410
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