Question
The adjusted trial balance forCullumberBowling Alley at December 31, 2020, contains the following accounts. Debits Credits Buildings$128,800Owner's Capital$119,800Accounts Receivable14,200Accumulated DepreciationBuildings42,600Prepaid Insurance4,900Accounts Payable11,700Cash19,100Notes Payable96,600Equipment61,700Accumulated DepreciationEquipment17,400Land68,800Interest Payable2,700Insurance
The adjusted trial balance forCullumberBowling Alley at December 31, 2020, contains the following accounts.
Debits
Credits
Buildings$128,800Owner's Capital$119,800Accounts Receivable14,200Accumulated DepreciationBuildings42,600Prepaid Insurance4,900Accounts Payable11,700Cash19,100Notes Payable96,600Equipment61,700Accumulated DepreciationEquipment17,400Land68,800Interest Payable2,700Insurance Expense600Service Revenue16,500Depreciation Expense6,800Interest Expense2,400$307,300$307,300
(a)
Prepare a classified balance sheet; assume that $29,700of the note payable will be paid in 2021.(List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.)
CULLUMBERBOWLING ALLEY
Balance Sheet
Fot the Month Ended December 31, 2020
December 31, 2020
Fot the Year Ended December 31, 2020
Assets
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Owner's Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Owner's Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Owner's Equity
$
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Owner's Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Owner's Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Owner's Equity
$
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Owner's Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Owner's Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Owner's Equity
$
Add
Less
:
Add
Less
:
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Owner's Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Owner's Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Owner's Equity
$
Liabilities and Owner's Equity
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Owner's Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Owner's Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Owner's Equity
$
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Owner's Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Owner's Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Owner's Equity
$
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Owner's Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Owner's Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Owner's Equity
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Owner's Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Owner's Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Owner's Equity
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Owner's Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Owner's Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Owner's Equity
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Owner's Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Owner's Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Owner's Equity
$
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College Accounting Chapters 1-12
Authors: Douglas McQuaig
10th Edition
1439038783, 978-1439038789
