The financial statement columns of the worksheet for Melton Company as of December 31, 2008 are as follows:

Instructions
Prepare a classified balance sheet for Melton Company.
The financial statement columns of the worksheet for Melton Company as of December 31, 2008 are asfollows:

Transcribed Image Text:

MELTON COMPANY Worksheet For the Year Ended December 31, 2008 alance Sheet DebiCredit DebiCredit 20,000 6,000 4,500 7000 50,000 as Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Patents Accounts Payable Bonds Payable (due 2012) Common Stock Retaine d Earnings Dividends Service Revenue Salaries Expense Depreciation Expense Insurance Expense Interest Expense 4800 7 500 23,500 18,000 36,000 10,000 4,200 25,400 5,200 4 800 5,000 3500 18 500 6900 Totals 25,400 99,200 92,300 6.900 Net Income 25.400 25400