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Windsor Company was organized on April 1, 2020. The company prepares quarterly financial statements. The adjusted trial balance amounts at June 30 are shown below.
Windsor Company was organized on April 1, 2020. The company prepares quarterly financial statements. The adjusted trial balance amounts at June 30 are shown below.
\begin{tabular}{lrllr} & Debit & & Credit \\ Cash & $6,500 & Accumulated Depreciation-Equipment & $700 \\ Accounts Receivable & 380 & Notes Payable & 3,500 \\ Prepaid Rent & 600 & Accounts Payable & 800 \\ Supplies & 800 & Salaries and Wages Payable & 300 \\ Equipment & 12,900 & Interest Payable & 50 \\ Dividends & 600 & Unearned Rent Revenue & 400 \\ Salaries and Wages Expense & 7,900 & Common Stock & 14,280 \\ Rent Expense & 1,300 & Service Revenue & 11,300 \\ Depreciation Expense & 700 & Rent Revenue & 1,100 \\ Supplies Expense & 200 & & $32,430 \\ \hline Utilities Expense & 500 & & \\ Interest Expense & 50 & & & \end{tabular} Determine the total assets and total liabilities at June 30,2020, for Windsor Company Step by Step Solution
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