he adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Accounts Debit Credit Cash $20,000 162,000 9,000 28,000 370,000 Accounts receivable Prepaid rent Supplies Equipment Accumulated depreciation Accounts payable Salaries payable Interest payable Notes payable (due in two years) $125,000 16,000 3,800 1,700 30,000 190,000 99,300 Common stock Retained earnings Dividends Service revenue Salaries expense Advertising expense 26,000 500,000 Rent expense Depreciation expense Interest expense Utilities expense 182,000 79,000 11,000 38,000 2,800 38,000 $ 965,800 Totals $965,800 Prepare a classified balance sheet for China Tea Company as of December 31, 2021. (Amounts to be deducte with a minus sign.)

he adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Accounts Debit Credit Cash $20,000 162,000 9,000 28,000 370,000 Accounts receivable Prepaid rent Supplies Equipment Accumulated depreciation Accounts payable Salaries payable Interest payable Notes payable (due in two years) $125,000 16,000 3,800 1,700 30,000 190,000 99,300 Common stock Retained earnings Dividends Service revenue Salaries expense Advertising expense 26,000 500,000 Rent expense Depreciation expense Interest expense Utilities expense 182,000 79,000 11,000 38,000 2,800 38,000 $ 965,800 Totals $965,800 Prepare a classified balance sheet for China Tea Company as of December 31, 2021. (Amounts to be deducte with a minus sign.)

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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