Solution-Prepare a classified balance sheet

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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Prepare a classified balance sheet - plevin company

Reference no: EM13553462

Reference no: EM13553462

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