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The following is a December 31, 2018, post-closing trial balance for Culver City Lighting, Inc. Credits Debits 75,eee 59,eee 65,eee 35, ece 160, ece Account
The following is a December 31, 2018, post-closing trial balance for Culver City Lighting, Inc. Credits Debits 75,eee 59,eee 65,eee 35, ece 160, ece Account Title Cash Accounts receivable Inventories Prepaid insurance Equipment Accumulated depreciation equipment Patent, net Accounts payable Interest payable Note payable (due in 10, equal annual installments) Common stock Retained earnings Totals 54,099 60,000 22,080 12,080 210, eee 90,eee 66,00 454,600 454,000 Prepare a classified balance sheet for Culver City Lighting, Inc. (Amounts to be deducted should be indicated by a minus sign.) CULVER CITY LIGHTING, INC. Balance Sheet At December 31, 2018 Assets Current assets Cash Accounts receivable Inventories Prepaid insurance 75.000 59.000 65.000 35,000 Inventories Prepaid insurance Patent Total current assets Intangible assets Equipment Accumulated depreciation 65,000 35,000 60.000 294.000 $ 160,000 54,000 214,000 508.000 $ 508,000
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