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(Yes, it is lined up properly) B Problem 2 Below is the adjusted trial balance for Haig Auto Inc. as of December 31, 2019. Use
(Yes, it is lined up properly)
B Problem 2 Below is the adjusted trial balance for Haig Auto Inc. as of December 31, 2019. Use the information to prepare a balance sheet. Ignore income taxes. 7 points Adjusted Balance DR CR 1,300,000 3,700,000 250,000 Account Account Name Number 1000001 Cash 1000002 Accounts receivable 1000003 Allowance for doubtful accounts 1000004 Inventory 1000005 Supplies 1000006 Prepaid insurance 1000007 Prepaid expense, other 1010000 Bond investments 1010001 P.P&E 1010002 Accumulated depreciation 300,000 190,000 20,000 1,400,000 12,600,000 455,000 . 2000001 Accounts payable 2000002 Accrued expenses 2000003 Salaries payable 2000004 Interest payable Payroll taxes payable 2000020 Short-term notes payable 2010001 Notes payable 975,000 145,000 95,000 225,000 80,000 225,000 6,500,000 3000001 Common stock 3000002 Capital in excess of par 3000003 Retained earnings, beginning of year 3000004 Dividends 4000001 Sales Revenue 1,000,000 4,050,000 560,000 15,500,000 5010000 Cost of goods sold 5010100 Sales Commissions 5010010 Salary expense - administrative 501xxxx All other expenses 7,400,000 1,550,000 1,600,000 30,060,000 30,060,000 Step by Step Solution
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