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The following is a December 31, year 1, post-closing trial balance for the Aitude Corporation. Debits Credits 43,000 36,550 80,625 17,200 10,750 155,875 11,825 Account
The following is a December 31, year 1, post-closing trial balance for the Aitude Corporation. Debits Credits 43,000 36,550 80,625 17,200 10,750 155,875 11,825 Account Title Cash Accounts receivable Inventories Prepaid rent Marketable securities (short-term) Machinery Accumulated depreciation--machinery Patent (net of amortization) Accounts payable Wages payable Taxes payable Bonds payable (due in 10 years) Common stock Retained earnings Totals 89,225 8,600 4,300 34,400 215,000 107,500 51,600 433,225 433,225 Required: Prepare a classified balance sheet for Aitude Corporation at December 31, year 1
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