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The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Credit Debit $13,000 162,000 7,000 34,000 350,000 Accounts Cash Accounts
The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Credit Debit $13,000 162,000 7,000 34,000 350,000 Accounts Cash Accounts receivable Prepaid rent Supplies Equipment Accumulated depreciation Accounts payable Salaries payable Interest payable Notes payable (due in two years) Common stock Retained earnings Dividends Service revenue Salaries expense Advertising expense Rent expense Depreciation expense Interest expense Utilities expense Totals $133,000 12,000 3,400 1,500 20,000 160,000 138,200 29,000 470,000 184,000 76,000 11,000 34,000 2,100 36,000 $938, 100 $938, 100 Prepare a classified balance sheet for China Tea Company as of December 31, 2021. (Amounts to be deducted should be indicated with a minus sign.) CHINA TEA COMPANY Balance Sheet As of December 31, 2021 Assets Liabilities and Stockholders' Equity Current assets: Current liabilities: Total current liabilities Total liabilities Total current assets Stockholders' Equity: Long-term assets: Total long-term assets Total stockholders' equity Total liabilities and stockholders' equity Total assets
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