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5.11. Presented below is the adjusted trial balance of a company at Dec. 31, 2019. Cash Supplies Prepaid Insurance Equipment Accumulated depreciation - equi pment Trademarks Account Payable Salaries and Wages payable Unearned service revenue bonds payable (due 2022) Share capital-ordinary retained earnings service revenue salaries and Wages expense insurance expense rent expense interest expense Total Debit ? 1,200 1,000 48,000 ? 950 9,000 1,400 1,200 900 Credit Additional info: Net loss for the year was $2,500. No dividends were declared during 2019. Instruction: Prepare a classified statement of financial position as of Dec 31, 2019. ? 9,000 10,000 500 2,000 9,000 10,000 20,000 10,000

5.11. Presented below is the adjusted trial balance of a company at Dec. 31, 2019. Cash Supplies Prepaid Insurance Equipment Accumulated depreciation - equi pment Trademarks Account Payable Salaries and Wages payable Unearned service revenue bonds payable (due 2022) Share capital-ordinary retained earnings service revenue salaries and Wages expense insurance expense rent expense interest expense Total Debit ? 1,200 1,000 48,000 ? 950 9,000 1,400 1,200 900 Credit Additional info: Net loss for the year was $2,500. No dividends were declared during 2019. Instruction: Prepare a classified statement of financial position as of Dec 31, 2019. ? 9,000 10,000 500 2,000 9,000 10,000 20,000 10,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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5.11. Presented below is the adjusted trial balance of a company at Dec. 31, 2019. Cash Supplies Prepaid Insurance Equipment Accumulated depreciation - equi pment Trademarks Account Payable Salaries and Wages payable Unearned service revenue bonds payable (due 2022) Share capital-ordinary retained earnings service revenue salaries and Wages expense insurance expense rent expense interest expense Total Debit ? ? 1,200 1,000 48,000 950 9,000 1,400 1,200 900 Credit Additional info: Net loss for the year was $2,500. No dividends were declared during 2019. Instruction: Prepare a classified statement of financial position as of Dec 31, 2019. ? 9,000 10,000 500 2,000 9,000 10,000 20,000 10,000
Transcribed Image Text:5.11. Presented below is the adjusted trial balance of a company at Dec. 31, 2019. Cash Supplies Prepaid Insurance Equipment Accumulated depreciation - equi pment Trademarks Account Payable Salaries and Wages payable Unearned service revenue bonds payable (due 2022) Share capital-ordinary retained earnings service revenue salaries and Wages expense insurance expense rent expense interest expense Total Debit ? ? 1,200 1,000 48,000 950 9,000 1,400 1,200 900 Credit Additional info: Net loss for the year was $2,500. No dividends were declared during 2019. Instruction: Prepare a classified statement of financial position as of Dec 31, 2019. ? 9,000 10,000 500 2,000 9,000 10,000 20,000 10,000
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