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Prepare a classified balance sheet for smith company

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Reference no: EM131792077

Project - Balance Sheet

 

Debits

Credits

Cash

?

Office Supplies

2640

Prepaid Insurance

2,200

Equipment

105,600

Accumulated Depreciation-Equipment

8,800

Trademarks

2,090

Accounts Payable

22,000

Wages Payable

1,100

Unearned Service Revenue

4,400

Bonds Payable due 2017

19,800

Common Stock

22,000

Retained Earnings

55,000

Service Revenue

22,000

Wages Expense

19,800

Insurance Expense

3,080

Rent Expense

2,640

Interest Expense

1,980

_______

Totals

?

?

Additional information:

1. Net loss for the year was $5,500.

2. No dividends were declared during 2010.

Instructions - Prepare a classified balance sheet for Smith Company as of December 31, 2010.

Reference no: EM131792077

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