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Use the following information for Quick Studies below. [The following information applies to the questions displayed below.) The following is the adjusted trial balance of

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Use the following information for Quick Studies below. [The following information applies to the questions displayed below.) The following is the adjusted trial balance of Sierra Company. Account Title Cash Prepaid insurance Notes receivable (due in 5 years) Buildings Accumulated depreciation-Buildings Accounts payable Notes payable (due in 3 years) H. Sierra, Capital H. Sierra, Withdrawals Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals Debit Credit $11,000 800 4,600 35,000 $15,000 4,000 4,500 15,000 2,500 24,500 3,800 3,500 1,800 $63,000 $63,000 SIERRA COMPANY Balance Sheet December 31 Total current assets Total assets Total liabilities Total liabilities and equity

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