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Question
Based on the adjusted trial balance shown below, prepare a classified balance sheet for Focus Package Delivery.
| FOCUS PACKAGE DELIVERY Adjusted Trial Balance December 31 | ||
| Debit | Credit | |
| Cash | 18,200 | |
| Accounts receivable | 34,200 | |
| Supplies | 2,100 | |
| Long-term investments | 25,000 | |
| Delivery equipment | 45,000 | |
| Accumulated depreciation Delivery equipment | 11,080 | |
| Intangible assets | 16,000 | |
| Accounts payable | 16,200 | |
| Wages payable | 4,120 | |
| Long-term notes payable* | 20,000 | |
| Common stock | 10,000 | |
| Retained earnings | 30,400 | |
| Dividends | 15,000 | |
| Delivery fees earned | 145,000 | |
| Rent expense | 8,000 | |
| Wages expense | 62,000 | |
| Supplies expense | 2,500 | |
| Depreciation expense Delivery equipment | 4,050 | |
| Interest expense | 1,000 | |
| Utilities expense | 3,750 | ______ |
| Totals | 236,800 | 236,800 |
* $2,000 of the long-term note payable is due during the next year.
Answer
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Related questions
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Periods
12 Percent 1
8929 2
1.6901 3
2.4018 4
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Q:
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