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Presented below is the adjusted trial balance of Abbey Corporation at December 31, 2015. Debit Credit Cash ? Supplies 1,200 Prepaid Insurance 1,000 Equipment 48,000

Presented below is the adjusted trial balance of Abbey Corporation at December 31, 2015.

Debit Credit
Cash ?
Supplies 1,200
Prepaid Insurance 1,000
Equipment 48,000
Accumulated DepreciationEquipment 9,000
Trademarks 950
Accounts Payable 10,000
Salaries and Wages Payable 500
Unearned Service Revenue 2,000
Bonds Payable (due 2022) 9,000
Share CapitalOrdinary 10,000
Retained Earnings 20,000
Service Revenue 10,000
Salaries and Wages Expense 9,000
Insurance Expense 1,400
Rent Expense 1,200
Interest Expense 900
Total ? ?

Additional information:

1. Net loss for the year was 2,500.
2. No dividends were declared during 2015.

image text in transcribedimage text in transcribed

repare a classified statement of financial position as of December 31, 2015. (List Current Assets in reverse order of liquidity.) ABBEY CORPORATION Statement of Financial Position December 31, 2015 Assets Current Assets Cash Add v Supplies 1,200 Total Current Assets Property, Plant and Equipment Equipment Intangible Assets Trademarks Total Intangible Assets Total Assets Equity and Liabilities

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