Requirement 4. Prepare a classified balance sheet (report form) at

December

31.

Start by preparing the assets section of the statement. In the next step, prepare the liabilities and owner's equity sections to complete the balance sheet. (If a box is not used in the statement leave the box empty; do not select a label or enter a zero.)

Review the Balance Sheet columns of the worksheet completed in Requirement 1.

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		Dunst Consulting
		Balance Sheet
		December 31, 2016
Assets
	Less:
	Less:

Liabilities
Owner's Equity

Dunst Consulting

Worksheet (Partial)

December 31, 2016

Adjusted

Income

Balance

Trial Balance

Statement

Sheet

Account Title

Debit

Credit

Debit

Credit

Debit

Credit

Cash

$28,200

28200

Accounts Receivable

2,300

2300

Office Supplies

200

200

Equipment

1,650

1650

Accum. Depr.Equip.

$20

20

Furniture

4,000

4000

Accum. Depr.Furn.

50

50

Accounts Payable

4,400

4400

Unearned Revenue

2,300

2300

Salaries Payable

750

750

Dunst, Capital

27,000

27000

Dunst, Withdrawals

1,200

1200

Service Revenue

5,950

5950

Rent Expense

1,200

1200

Utilities Expense

400

400

Supplies Expense

500

500

Salaries Expense

750

750

Depr. ExpenseEquip.

20

20

Depr. ExpenseFurn.

50

50

$40,470

$40,470

2920

5950

37550

34520

Net income or loss

3030

3030

5950

5950

37550

37550