Question
The adjusted trial balance columns of the worksheet for Sandhill Company are as follows. The owner did not make any additional investments in the business
The adjusted trial balance columns of the worksheet for Sandhill Company are as follows. The owner did not make any additional investments in the business in April.
SANDHILL COMPANY Worksheet (partial) For the Month Ended April 30, 2020 | ||||
Adjusted Trial Balance | ||||
Account Titles | Dr. | Cr. | ||
Cash | 10,300 | |||
Accounts Receivable | 7,500 | |||
Prepaid Rent | 2,300 | |||
Equipment | 22,800 | |||
Accumulated DepreciationEquip. | 4,800 | |||
Notes Payable | 5,700 | |||
Accounts Payable | 5,000 | |||
Owners Capital | 28,010 | |||
Owners Drawings | 3,700 | |||
Service Revenue | 15,500 | |||
Salaries and Wages Expense | 10,800 | |||
Rent Expense | 900 | |||
Depreciation Expense | 710 | |||
Interest Expense | 40 | |||
Interest Payable | 40 | |||
Totals | 59,050 | 59,050 |
Prepare an income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Prepare an owners equity statement. (List items that increase owner's equity first.
Prepare a classified balance sheet. (List Current Assets in order of liquidity.)
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