From the adjusted trial balance below, prepare a classified balance sheet in report format as at June 30, 2020.                   Adjusted trail balance Accounts unadjusted Adjustments Adjusted   DR CR DR CR DR CR cash 127000   127000 Account receivable 151000   151000 Allowance for bad debts                             12500                            7000                                19500 Merchandise inventory 187500                            1500 186000 Store supplies 58000                          33000 25000 Prepaid insurance 72000                           24000 48000 Prepaid rent 56000                             42000 14000 furniture 800000   800000 Accumulated depreciation on furniture                           256000                              64000                              320000 computer equipment 450000   450000 Accumulated depreciation on computer                               45000                          45000 Accounts payable                             133500                             133500 salaries payable                                   14000                               14000 Interest payable                              27000                               9000                              36000 unearned sales revenue                               82000 48000                               34000 Long term loan                               360000                                   360000 Eva ready capital                              898500                            898500 Eva ready withdrawl 104000   104000 sales revenue                           1043000                               48000                            1091000 sales discount 7000   7000 sales return & allowance 5500   5500 Cost of good sold 403000 1500 404500 salaries expense 165000 14000 179000 insurance expense                                 24000 24000 utilities expense 87500   87500 rent expense 126000 42000 168000 Depreciation on furniture   64000 64000 Depreciation on computer   45000 45000 store supply expense   33000 33000 Gain on disposal of old computer                           14000                                 14000 bad debt expense   7000 7000 interest expense 27000 9000 36000         Total 2826500           2826500 287500                 287500 2965500              2965500

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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From the adjusted trial balance below, prepare a classified balance sheet in report format as at June 30, 2020.

                  Adjusted trail balance

Accounts unadjusted Adjustments Adjusted
 
DR CR
DR CR
DR CR
cash 127000   127000
Account receivable 151000   151000
Allowance for bad debts                             12500                            7000                                19500
Merchandise inventory 187500                            1500 186000
Store supplies 58000                          33000 25000
Prepaid insurance 72000                           24000 48000
Prepaid rent 56000                             42000 14000
furniture 800000   800000
Accumulated depreciation on furniture                           256000                              64000                              320000
computer equipment 450000   450000
Accumulated depreciation on computer                               45000                          45000
Accounts payable                             133500                             133500
salaries payable                                   14000                               14000
Interest payable                              27000                               9000                              36000
unearned sales revenue                               82000 48000                               34000
Long term loan                               360000                                   360000
Eva ready capital                              898500                            898500
Eva ready withdrawl 104000   104000
sales revenue                           1043000                               48000                            1091000
sales discount 7000   7000
sales return & allowance 5500   5500
Cost of good sold 403000 1500 404500
salaries expense 165000 14000 179000
insurance expense                                 24000 24000
utilities expense 87500   87500
rent expense 126000 42000 168000
Depreciation on furniture   64000 64000
Depreciation on computer   45000 45000
store supply expense   33000 33000
Gain on disposal of old computer                           14000                                 14000
bad debt expense   7000 7000
interest expense 27000 9000 36000
       
Total 2826500           2826500 287500                 287500 2965500              2965500

 

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