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The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Credit Debit $11,000 169,000 8,000 33,000 350,000 Accounts Cash Accounts
The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Credit Debit $11,000 169,000 8,000 33,000 350,000 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 $128,000 16,000 3,900 1,500 30,000 180,000 137,200 24,000 450,000 183,000 78,000 20,000 33,000 2,600 35,000 $946,600 $946,600 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 0 Total liabilities 0 $ 0 Stockholders' Equity Total current assets Long-term assets: 0 0 Total long-term assets Total assets Total stockholders' equity Total liabilities and stockholders' equity $ 0 $
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