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please help finish ! and correct if what i have already is correct ! Catena's Marketing Company has the following adjusted trial balance at the
please help finish ! and correct if what i have already is correct !
Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $590 were declared at the end of the year, and 660 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,640 in cash (for a total at the end of the year of 820 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit Credit Cash $ 1,650 Accounts receivable 2,220 Interest receivable 240 Prepaid insurance 1,760 Long-term notes receivable 2,910 Equipment 15,100 Accumulated depreciation $ 2,880 Accounts payable 2,340 Dividends payable Accrued expenses payable 3,850 Income taxes payable 2,570 Unearned rent revenge 420 Common Stock (820 shares) 82 Additional paid-in capital 3,438 Retained earnings 3,530 Sales revenue 36,950 Interest revenue Rent revenue 690 Wages expense 18,800 Depreciation expense 1,720 Utilities expense 420 Insurance expense 720 Rent expense 9,140 Income tax expense 2,800 Total $ 57,480 $ 57,480 590 140 Prepare a classified balance sheet for the end of the current year. CATENA'S MARKETING COMPANY Balance Sheet Assets Current assets: $ 1,650 Cash 2,220 240 Accounts receivable Interest receivable Prepaid insurance 1,760 5,870 2,910 Total current assets Notes receivable Equipment (net of accumulated depreciation) + $ 8,780 Total assets Liabilities Current liabilities: 2,340 590 Accounts payable Dividends payable Accrued expenses payable Income taxes payable 3,850 2,570 Notes receivable 2,9101 Equipment (net of accumulated depreciation) Total assets $ 8,780 Liabilities Current liabilities: 2,340 590 Accounts payable Dividends payable Accrued expenses payable Income taxes payable Unearned rent revenue 3,850 2,570 420 Total current liabilities 9,770 82 Stockholders' equity Common stock Additional paid-in capital Retained earnings 3,438 3,520 Total stockholders' equity Total liabilities and stockholders' equity $ 13,290 Step by Step Solution
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