Question
Presented below is the adjusted trial balance of Blue Corporation at December 31, 2020. Debit Credit Cash $ ? Supplies 1,510 Prepaid Insurance 1,310 Equipment
Presented below is the adjusted trial balance of Blue Corporation at December 31, 2020.
Debit | Credit | ||
---|---|---|---|
Cash | $ ? | ||
Supplies | 1,510 | ||
Prepaid Insurance | 1,310 | ||
Equipment | 48,310 | ||
Accumulated Depreciation-Equipment | $ 4,310 | ||
Trademarks | 1,260 | ||
Accounts Payable | 10,310 | ||
Salaries and Wages Payable | 810 | ||
Unearned Service Revenue | 2,310 | ||
Bonds Payable (due 2027) | 9,310 | ||
Common Stock | 10,310 | ||
Retained Earnings | 25,310 | ||
Service Revenue | 10,310 | ||
Salaries and Wages Expense | 9,310 | ||
Insurance Expense | 1,710 | ||
Rent Expense | 1,510 | ||
Interest Expense | 1,210 | ||
Total | $ ? | $ ? |
Additional information:
1. | Net loss for the year was $3,430. | |
2. | No dividends were declared during 2020. |
Prepare a classified balance sheet as of December 31, 2020. (List Current Assets in order of liquidity.)
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