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Prepare a classified balance sheet - plevin company

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Reference no: EM13553462

The adjusted trial balance for Plevin Company is presented below.

PLEVIN COMPANY Adjusted Trial Balance July 31, 2014

Account Titles

Debit

Credit

101
112

157

Cash

Accounts Receivable Equipment

$ 9,840

8,780

15,900

158

Accumulated Depreciation-Equip.

$ 7,400

201

Accounts Payable

4,220

208

Unearned Rent Revenue

1,800

301

Owner"s Capital

45,200

306

Owner"s Drawings

16,000

400

Service Revenue

64,000

429

Rent Revenue

6,500

711

Depreciation Expense

8,000

726

Salaries and Wages Expense

55,700

732

Utilities Expense

14,900


$129,120

$129,120

Instructions

(a) Prepare an income statement and an owner"s equity statement for the year. Plevin did not make any capital investments during the year.

(b) Prepare a classified balance sheet at July 31.

Reference no: EM13553462

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