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Presented below is the adjusted trial balance of Blossom Corporation at December 31, 2020. Debit Credit Cash $ ? Supplies 1,340 Prepaid Insurance 1,140 Equipment
Presented below is the adjusted trial balance of Blossom Corporation at December 31, 2020. Debit Credit Cash $ ? Supplies 1,340 Prepaid Insurance 1,140 Equipment 48,140 Accumulated Depreciation-Equipment $ 4,140 Trademarks 1,090 Accounts Payable 10,140 Salaries and Wages Payable 640 Unearned Service Revenue 2.140 Bonds Payable (due 2027) 9.140 Common Stock 10,140 Retained Earnings 25,140 Service Revenue 10,140 Salaries and Wages Expense 9,140 Insurance Expense 1,540 Rent Expense 1,340 Interest Expense 1,040 Total $ ? $ ? Additional information: 1. Net loss for the year was $2,920. 2. No dividends were declared during 2020. Prepare a classified balance sheet as of December 31, 2020. (List Current Assets in order of liquidity.) BLOSSOM CORPORATION Balance Sheet Assets $ $ Liabilities and Stockholders' Equity > $
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