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The adjusted trial balance for Cortez Company at December 31, 2024 is presented below: Accounts Cash Accounts receivable Prepaid rent Supplies Equipment Accumulated depreciation
The adjusted trial balance for Cortez Company at December 31, 2024 is presented below: 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 Debit $ 20,000 157,000 Credit 6,000 27,000 310,000 $ 129,000 16,000 3,600 1,300 20,000 170,000 115,100 22,000 440,000 186,000 75,000 20,000 35,000 2,000 35,000 $ 895,000 $ 895,000 Prepare a classified balance sheet for Cortez Company as of December 31, 2024. (Amounts to be deducted should be indicated with a minus sign.) Assets Current assets: CORTEZ COMPANY Balance Sheet As of December 31, 2024 Current liabilities: Liabilities and Stockholders' Equity Total current liabilities Long-term liabilities: $ 0 Total liabilities 0 Total current assets $ 0 Stockholders' Equity: Long-term assets: Total long-term assets Total assets 0 Total stockholders' equity 0 $ 0 Total liabilities and stockholders' equity $ 0
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