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In: Accounting

The following data were taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet for...

The following data were taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet for April 30 for Abigail Trucking:

Accounts

Amount
Accounts Payable $42,600
Accounts Receivable 83,400
Accumulated Depreciation-Trucks 28,000
Cash ?
Common Stock 100,000
Prepaid Insurance 6,500
Prepaid Rent 12,000
Retained Earnings 215,000
Salaries Payable 12,500
Trucks 206,000
Supplies 4,700
Unearned Fees 5,000

Required:

Prepare a classified balance sheet. Be sure to complete the statement heading. Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. You will not need to enter colons (:) on the Balance Sheet. For any amount which is subtracted, use a minus sign.
Labels
April 30
Current assets
Current liabilities
For the Period Ended April 30
Property, plant, and equipment
Amount Descriptions
Total assets
Total current assets
Total liabilities
Total property, plant, and equipment
Total stockholders' equity
Total liabilities and stockholders' equity

Prepare a classified balance sheet. Be sure to complete the statement heading. Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. Enter property, plant, and equipment in the order of land, building, and equipment. You will not need to enter colons (:) on the Balance Sheet. For any amount which is subtracted, use a minus sign.

Abigail Trucking

Balance Sheet

1

Assets

2

3

4

5

6

7

8

9

10

11

12

13

14

Liabilities

15

16

17

18

19

20

Stockholders' Equity

21

22

23

24

Solutions

Expert Solution

ekkarill92 answered 3 weeks ago
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