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COMPANY JK CLASSIFIED BALANCE SHEET AS OF DECEMBER 31, 2020 Assets Liabilities & Equity Current assets: Current liabilities: Total current assets Total current liabilities Property, plant and equipment: Long-term liabilities: Total property, plant and equipment Total long-term liabilities Total of all liabilitlies Equity: Total equity | Total of all assets Total of all liabilities & equity_

COMPANY JK CLASSIFIED BALANCE SHEET AS OF DECEMBER 31, 2020 Assets Liabilities & Equity Current assets: Current liabilities: Total current assets Total current liabilities Property, plant and equipment: Long-term liabilities: Total property, plant and equipment Total long-term liabilities Total of all liabilitlies Equity: Total equity | Total of all assets Total of all liabilities & equity_

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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complete the classified balance sheet based on the adjusted trial balance
COMPANY JK CLASSIFIED BALANCE SHEET AS OF DECEMBER 31, 2020 Assets Liabilities & Equity Current assets: Current liabilities: Total current assets Total current liabilities Property, plant and equipment: Long-term liabilities: Total property, plant and equipment Total long-term liabilities Total of all liabilitlies Equity: Total equity Total of all assets Total of all liabilities & equity
Transcribed Image Text:COMPANY JK CLASSIFIED BALANCE SHEET AS OF DECEMBER 31, 2020 Assets Liabilities & Equity Current assets: Current liabilities: Total current assets Total current liabilities Property, plant and equipment: Long-term liabilities: Total property, plant and equipment Total long-term liabilities Total of all liabilitlies Equity: Total equity Total of all assets Total of all liabilities & equity
PART 4 - Use the following adjusted trial balance to complete section A and B below. COMPANY JK ADJUSTED TRIAL BALANCE 12/31/2020 Account title: Debit Credit Cash | 30,000 Accounts receivable | 20,000 Office supplies 9,000 Buildings Accumulated depreciation - Buildings 85,000 20,000 Accounts payable 10,000 Deferred revenue 5,500 Interest payable (due in 1 month) 100 Notes payable (due in 2 years) 10,000 Common stock 15,000 Retained earnings 40,000 Dividends 2,000 Service revenue 83,600 Wages expense 27,000 Interest expense 1,200 Depreciation expense - Buildings 10,000 ΤΟΤAL 184,200 184,200
Transcribed Image Text:PART 4 - Use the following adjusted trial balance to complete section A and B below. COMPANY JK ADJUSTED TRIAL BALANCE 12/31/2020 Account title: Debit Credit Cash | 30,000 Accounts receivable | 20,000 Office supplies 9,000 Buildings Accumulated depreciation - Buildings 85,000 20,000 Accounts payable 10,000 Deferred revenue 5,500 Interest payable (due in 1 month) 100 Notes payable (due in 2 years) 10,000 Common stock 15,000 Retained earnings 40,000 Dividends 2,000 Service revenue 83,600 Wages expense 27,000 Interest expense 1,200 Depreciation expense - Buildings 10,000 ΤΟΤAL 184,200 184,200
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