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please help! The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Debit Credit Canh 11,000 Accounts receivable 155,000 Prepaid
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The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Debit Credit Canh 11,000 Accounts receivable 155,000 Prepaid rent 5,500 Tnventory 30,000 Equipment 350,000 Accumulated depreciation equipment 130,000 Accounts payable 35,000 Notes payable-due in three months 35,000 salaries payable 4,500 Interest payable 11.600 Common stock 225,000 Retained earning 61,000 Dividends 10,100 Sales revenue 450,000 Costs of goods sold 205,000 Salaries expense 125,000 Rent expense 20.000 Depreciation expense 35,000 Interest expense 2,500 Advertising expense 3,000 Totals 952,100 952,100 Required: Prepare a classified balance sheet for China Tea Company as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) CHINA TEA COMPANY Balance Sheet At December 31, 2021 Assets 0 Total assets Liabilities and Shareholders' Equity 0 Shareholders' equity Total shareholders' equity Total liabilities and shareholders' equity 0 Step by Step Solution
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