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_
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6abc4fc2-463a-447a-9e94-ac702a0ec0bc%2F97398eb6-9a1a-4ffb-9db9-fcdf080be49f%2F5gurftd_processed.jpeg&w=3840&q=75)
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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6abc4fc2-463a-447a-9e94-ac702a0ec0bc%2F97398eb6-9a1a-4ffb-9db9-fcdf080be49f%2F3e6urb2_processed.jpeg&w=3840&q=75)
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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