The adjusted trial balance for Rego Bowling Alley at 31 December 2012 contains the following accounts.

Debits		Credits
Building	$128,800		Ann Rego, Capital	$115,000
Accounts Receivable	14,620		Accumulated Depreciation - Building	45,600
Prepaid Insurance	4,680		Accounts Payable	12,400
Cash	18,040		Mortgage Payable	94,780
Equipment	62,400		Accumulated Depreciation - Equipment	18,720
Land	64,000		Interest Payable	2,600
Insurance Expense	780		Bowling Revenues	14,180
Depreciation Expense	7,360			$303,280
Interest Expense	2,600
	$303,280

Instructions

Prepared a classified balance sheet; assume that $13,600 of the mortgage payable will be paid in 2013.

REGO BOWLING ALLEY
Balance Sheet
31 December 2012
Assets
Current Assets
Cash					$
Accounts receivable
Prepaid Insurance
Total current assets
Property, plant and equipment
Land			$	64,000
Building	$	128,800
Less: Acc. depr.-building
Equipment
Less: Acc. depr.-equipment	18,720
Total assets					$
Liabilities and Equity
Current liabilities
Current portion of mortgage payable	$
Accounts payable
Interest payable			2,600
Total current liabilities
Long-term liabilities
Mortgage payable
Total Liabilities
Equity
A. Rego, Capital
Total liabilities and equity	$