The accounting records for ADR, Inc. reflected the following amounts at the end of August 2013: Cash

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The accounting records for ADR, Inc. reflected the following amounts at the end of August 2013:

Cash ............. $3,500

Total Operating Expenses ....... 3,700

Accounts Payable ....... 4,500

Total Shareholders’ Equity ...... 5,200

Long-Term Notes Payable ....... 2,300

Inventory .......... 1,700

Wages Payable ........ 1,100

Cost of Goods Sold ........$19,500

Equipment, Net........ 6,100

Accrued Liabilities ........ 1,900

Net Sales Revenue........ 28,000

Accounts Receivable ........ 2,900

Prepaid Rent ........... 800

Prepare the ADR, Inc. classified balance sheet at August 31, 2013. Use the report format.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Financial Accounting

ISBN: 978-0132889711

1st Canadian Edition

Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper

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