Question

Presented below is the adjusted trial balance of Windsor, Inc. at December 31, 2017.

	Debit		Credit
Cash	$          ?
Supplies	1,410
Accounts Receivable	3,520
Prepaid Insurance	2,380
Equipment	80,220
Accumulated Depreciation—Equipment			$20,600
Trademarks	3,760
Accounts Payable			2,820
Salaries and Wages Payable			1,360
Unearned Service Revenue			1,260
Bonds Payable (due 2024)			32,540
Common Stock			2,080
Additional paid-in capital			15,780
Retained Earnings			14,940
Service Revenue			30,180
Salaries and Wages Expense	14,800
Insurance Expense	2,400
Rent Expense	3,180
Interest Expense	2,300
Total	$          ?		$          ?

Additional information:

1.		Net income for the year was $7,500.
2.		No dividends were declared during 2017.

Prepare a classified balance sheet as of December 31, 2017.

Answer 1

Requirement, as asked

>Cash balance is the 'balancing figure' to match TOTAL ASSETS with TOTAL LIABILITIES & STOCKHOLDER"S EQUITY

Windsor Inc
Balance Sheet
at 31 Dec 2017
ASSETS
Current Assets:
Cash	$7,590
Supplies	$1,410
Accounts receivables	$3,520
Prepaid Insurance	$2,380
Total Current Assets		$14,900
Equipment	$80,220
Less:
Accumulated Depreciation equipment	$20,600	$59,620
Intangible Assets:
Trademarks		$3,760
Total Assets		$78,280
LIABILITIES and STOCKHOLDER's EQUITY
Current Liabilities:
Accounts Payable	$2,820
Salaries & Wages Payable	$1,360
Unearned Service Revenue	$1,260
Total Current Liabilities		$5,440
Long Term Liabilities:
Bonds Payable (due 2021)		$32,540
Total Liabilities		$37,980
Stockholder's equity:
Common Stock	$2,080
Additional Paid in Capital	$15,780
Retained earnings [14940 + 7500]	$22,440
Total Stockholder's equity		$40,300
Total Liabilities & Stockholder's equity		$78,280