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Brar Maintenance Company showed the following adjusted trial balance information for its December 31, 2023, year-end. Account Accounts payable Accounts receivable Accum. deprec., building Accum. deprec., machinery Allowance for doubtful accounts Building Cash Estimated warranty liabilities Interest payable Jake Brar, capital Interest receivable 'Assume all accounts have a normal balance Balance $ 42,300 Land Account 36,600 Machinery 352,000 Merchandise inventory 125,000 Notes payable 1,700 526,000 Operating expenses 18,900 10,900 590 221,095 85 Notes receivable, due 2024 Prepaid rent Revenue Salaries & admin expense Salaries payable Unearned revenue S Balance 82,000 295,000 125,000 190,000 22,600 901,900 54,000 1,200,000 119,200 7,700 30,000

Brar Maintenance Company showed the following adjusted trial balance information for its December 31, 2023, year-end. Account Accounts payable Accounts receivable Accum. deprec., building Accum. deprec., machinery Allowance for doubtful accounts Building Cash Estimated warranty liabilities Interest payable Jake Brar, capital Interest receivable 'Assume all accounts have a normal balance Balance $ 42,300 Land Account 36,600 Machinery 352,000 Merchandise inventory 125,000 Notes payable 1,700 526,000 Operating expenses 18,900 10,900 590 221,095 85 Notes receivable, due 2024 Prepaid rent Revenue Salaries & admin expense Salaries payable Unearned revenue S Balance 82,000 295,000 125,000 190,000 22,600 901,900 54,000 1,200,000 119,200 7,700 30,000

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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Brar Maintenance Company showed the following adjusted trial balance information for its December 31, 2023, year-end. Account Accounts payable Accounts receivable Accum. deprec., building Accum. deprec., machinery Allowance for doubtful accounts Building Cash Estimated warranty liabilities Interest payable Jake Brar, capital Interest receivable Current assets Balance $ 42,300 Land 'Assume all accounts have a normal balance. $149,000 of the note payable is due beyond December 31, 2024 Total current assets Property, plant, and equipment 36,600 Machinery 352,000 Merchandise inventory 125,000 Notes payable" 1,700 Notes receivable, due 2024 526,000 Operating expenses 18,900 Prepaid rent 10,900 Revenue 590 221,095 85 Account Salaries & admin expense Salaries payable Unearned revenue BRAR MAINTENANCE COMPANY Balance Sheet December 31, 2023 Assets Balance S 82,000 295,000 125,000 190,000 22,600 Required: Prepare a classified balance sheet for Brar Maintenance Company at December 31, 2023. (Be sure to list the assets and liabilities in order of their liquidity. Enter all amounts as positive values.) 901,900 54,000 1,200,000 119,200 7,700 30,000
Transcribed Image Text:Brar Maintenance Company showed the following adjusted trial balance information for its December 31, 2023, year-end. Account Accounts payable Accounts receivable Accum. deprec., building Accum. deprec., machinery Allowance for doubtful accounts Building Cash Estimated warranty liabilities Interest payable Jake Brar, capital Interest receivable Current assets Balance $ 42,300 Land 'Assume all accounts have a normal balance. $149,000 of the note payable is due beyond December 31, 2024 Total current assets Property, plant, and equipment 36,600 Machinery 352,000 Merchandise inventory 125,000 Notes payable" 1,700 Notes receivable, due 2024 526,000 Operating expenses 18,900 Prepaid rent 10,900 Revenue 590 221,095 85 Account Salaries & admin expense Salaries payable Unearned revenue BRAR MAINTENANCE COMPANY Balance Sheet December 31, 2023 Assets Balance S 82,000 295,000 125,000 190,000 22,600 Required: Prepare a classified balance sheet for Brar Maintenance Company at December 31, 2023. (Be sure to list the assets and liabilities in order of their liquidity. Enter all amounts as positive values.) 901,900 54,000 1,200,000 119,200 7,700 30,000
Total current assets Property, plant, and equipment Total property, plant, and equipment Total assets Current liabilities: Total current Liabilities Non-current liabilities: Total liabilities Total liabilities and equity Liabilities Equity
Transcribed Image Text:Total current assets Property, plant, and equipment Total property, plant, and equipment Total assets Current liabilities: Total current Liabilities Non-current liabilities: Total liabilities Total liabilities and equity Liabilities Equity
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