In: Accounting
The December 31, 2021, adjusted trial balance for Fightin' Blue
Hens Corporation is presented below.
Accounts | Debit | Credit | ||||||
Cash | $ | 11,000 | ||||||
Accounts Receivable | 140,000 | |||||||
Prepaid Rent | 5,000 | |||||||
Supplies | 25,000 | |||||||
Equipment | 300,000 | |||||||
Accumulated Depreciation | $ | 125,000 | ||||||
Accounts Payable | 11,000 | |||||||
Salaries Payable | 10,000 | |||||||
Interest Payable | 4,000 | |||||||
Notes Payable (due in two years) | 30,000 | |||||||
Common Stock | 200,000 | |||||||
Retained Earnings | 50,000 | |||||||
Service Revenue | 400,000 | |||||||
Salaries Expense | 300,000 | |||||||
Rent Expense | 15,000 | |||||||
Depreciation Expense | 30,000 | |||||||
Interest Expense | 4,000 | |||||||
Totals | $ | 830,000 | $ | 830,000 | ||||
3. Prepare a classified balance sheet as of
December 31, 2021. (Amounts to be deducted should be
indicated by a minus sign.)