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Presented below is the adjusted trial balance of Sarasota Corporation at December 31, 2020. Debit Credit Cash $ ? Supplies 1,300 Prepaid Insurance 1,100 Equipment
Presented below is the adjusted trial balance of Sarasota Corporation at December 31, 2020. Debit Credit Cash $ ? Supplies 1,300 Prepaid Insurance 1,100 Equipment 48,100 Accumulated Depreciation Equipment $ 4,100 Trademarks 1,050 Accounts Payable 10,100 Salaries and Wages Payable 600 Unearned Service Revenue 2,100 Bonds Payable (due 2027) 9,100 Common Stock 10,100 Retained Earnings 25,100 Service Revenue 10,100 Salaries and Wages Expense 9,100 Insurance Expense 1,500 Rent Expense 1,300 Interest Expense 1,000 Total $ ? $ ? Additional information: 1. Net loss for the year was $2,800. 2. No dividends were declared during 2020. Prepare a classified balance sheet as of December 31, 2020. (List Current Assets in order of liquidity.) SARASOTA CORPORATION Balance Sheet December 31, 2020 Assets Liabilities and Stockholders' Equity
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