PREPARE A CLASSIFIED BALANCE SHEET

2:06:08 PM / Remaining: 109 min. Adjusted Trial Balance July 31, 2020 Account Titles No. Debit Credit $8,300 9,000 15,800 101 112 157 158 201 208 301 306 400 429 711 726 732 Cash Accounts Receivable Equipment Accumulated Depreciation-Equip. Accounts Payable Unearned Rent Revenue Owner's Capital Owner's Drawings Service Revenue Rent Revenue Depreciation Expense Salaries and Wages Expense Utilities Expense $7,700 4,700 1,900 45,200 16,200 64,200 6,500 9,500 56,000 15,400 $130,200 $130,200 riepai a MICIE Statement sur une year. (Enter negative amounts using either a ne CULLUMBER COMPANY Income Statement For the Year Ended July 31, 2020 Revenues Service Revenue 64,200 Rent Revenue 6,500 Total Revenues 70,700 Expenses Depreciation Expense 9,500 Salaries and Wages Expense 56,000 Utilities Expense 15,400 Total Expenses 80,900 Net Income / (Loss) 10,200 Prepare an owner's equity statement for the year. Cullumber did not make any capital investments during the year. CULLUMBER COMPANY Owner's Equity Statement For the Year Ended July 31, 2020 Owner's Capital, July 31, 2020 Less Net Income / (Loss) 45,200 Drawings 10,200 16,200 Owner's Capital, August 1, 2019 18,800 SHOW LIST OF ACCOUNTS (b) Prepare a classified balance sheet at July 31. (List Current Assets in order of liquidity.) CULLUMBER COMPANY Balance Sheet Assets Liabilities and Owner's Equity