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Problem 4-2A (Part Level Submission) The adjusted trial balance columns of the worksheet for Monty Company...

Problem 4-2A (Part Level Submission)

The adjusted trial balance columns of the worksheet for Monty Company are as follows.

Monty Company
Worksheet
For the Year Ended December 31, 2019

Adjusted Trial Balance

Account No.

Account Titles

Dr.

Cr.
101 Cash 5,000
112 Accounts Receivable 10,800
126 Supplies 1,800
130 Prepaid Insurance 1,800
157 Equipment 27,400
158 Accumulated Depreciation—Equipment 5,200
200 Notes Payable 14,600
201 Accounts Payable 6,300
212 Salaries and Wages Payable 2,600
230 Interest Payable 500
311 Common Stock 12,600
320 Retained Earnings 3,500
332 Dividends 7,200
400 Service Revenue 58,300
610 Advertising Expense 8,700
631 Supplies Expense 3,700
711 Depreciation Expense 5,200
722 Insurance Expense 3,300
726 Salaries and Wages Expense 28,200
905 Interest Expense

500

  

Totals

103,600

103,600

repare a classified balance sheet. (Note: $5,470 of the notes payable become due in 2020.) (List Current Assets in order of liquidity.)

Solutions

Expert Solution

Working notes for retained earnings:

ekkarill92 answered 2 years ago
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