III. (10 Points) Presented below is the adjusted trial balance of ABC Corporation at December 31, 2019. Debits Credits Cash Office Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment $ ? 2,640 2,200 105,600 $ 8,800 Trademarks 2,090 Accounts Payable Salaries and Wages Payable Unearned Service Revenue 22,000 1,100 4,400 19,800 22,000 55,000 25,000 Bonds Payable, due 2019 Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Rent Expense Interest Expense 20,000 3,800 2,600 1,900 $ ? Total $ ? Additional information: Net loss for the year was $3,300 and No dividends were declared during 2019. Prepare balance sheet as of December 31, 2019 under account form.
III. (10 Points) Presented below is the adjusted trial balance of ABC Corporation at December 31, 2019. Debits Credits Cash Office Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment $ ? 2,640 2,200 105,600 $ 8,800 Trademarks 2,090 Accounts Payable Salaries and Wages Payable Unearned Service Revenue 22,000 1,100 4,400 19,800 22,000 55,000 25,000 Bonds Payable, due 2019 Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Rent Expense Interest Expense 20,000 3,800 2,600 1,900 $ ? Total $ ? Additional information: Net loss for the year was $3,300 and No dividends were declared during 2019. Prepare balance sheet as of December 31, 2019 under account form.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:III. (10 Points) Presented below is the adjusted trial balance of ABC Corporation at December 31, 2019.
Debits
Credits
Cash
Office Supplies
Prepaid Insurance
Equipment
Accumulated Depreciation-Equipment
$ ?
2,640
2,200
105,600
$ 8,800
Trademarks
2,090
Accounts Payable
Salaries and Wages Payable
Unearned Service Revenue
22,000
1,100
4,400
19,800
22,000
55,000
25,000
Bonds Payable, due 2019
Common Stock
Retained Earnings
Service Revenue
Salaries and Wages Expense
Insurance Expense
Rent Expense
Interest Expense
20,000
3,800
2,600
1,900
$ ?
Total
$ ?
Additional information: Net loss for the year was $3,300 and No dividends were declared during 2019.
Prepare balance sheet as of December 31, 2019 under account form.
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