Presented below is the adjusted trial balance of De Young Corporation at December 31, 2014 Debits Credits Cash ? Office Supplies 2,640 Prepaid Insurance 2,200 Equipment 105,600 Accumulated Depreciation - Equipment 8,800 Trademarks 2,090 Accounts Payable Salaries & Wages Payable 22,000 1,100 Unearned Service Revenue 4,400 Bonds Payable, Due 2019 19,800 Common Stock 22,000 Retained Earnings 55,000 Service Revenue 22,000 Salaries & Wages Expense 19,800 Insurance Expense 3,080 Rent Expense 2,640 Interest Expense 1,980 Total ? ? Net Loss for the Year was $5,500 No Dividends were declared during 2015
Presented below is the adjusted trial balance of De Young Corporation at December 31, 2014 Debits Credits Cash ? Office Supplies 2,640 Prepaid Insurance 2,200 Equipment 105,600 Accumulated Depreciation - Equipment 8,800 Trademarks 2,090 Accounts Payable Salaries & Wages Payable 22,000 1,100 Unearned Service Revenue 4,400 Bonds Payable, Due 2019 19,800 Common Stock 22,000 Retained Earnings 55,000 Service Revenue 22,000 Salaries & Wages Expense 19,800 Insurance Expense 3,080 Rent Expense 2,640 Interest Expense 1,980 Total ? ? Net Loss for the Year was $5,500 No Dividends were declared during 2015
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 5MCQ: Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense at...
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Question
How would a classified balance sheet look like for the company as of Dec 31, 2014?
![Presented below is the adjusted trial balance of De Young Corporation at December 31, 2014
Debits
Credits
Cash
?
Office Supplies
2,640
Prepaid Insurance
2,200
Equipment
Accumulated Depreciation - Equipment
105,600
8,800
Trademarks
2,090
Accounts Payable
22,000
Salaries & Wages Payable
1,100
4,400
19,800
Unearned Service Revenue
Bonds Payable, Due 2019
Common Stock
22,000
Retained Earnings
55,000
Service Revenue
22,000
Salaries & Wages Expense
19,800
Insurance Expense
3,080
Rent Expense
2,640
Interest Expense
1,980
Total
?
Net Loss for the Year was $5,500
No Dividends were declared during 2015](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fca441b53-7017-400e-bd4d-904d7f9361cf%2Ffe60f0b0-9d04-40f8-ad74-ca4701ded527%2F95ht9tq5_processed.png&w=3840&q=75)
Transcribed Image Text:Presented below is the adjusted trial balance of De Young Corporation at December 31, 2014
Debits
Credits
Cash
?
Office Supplies
2,640
Prepaid Insurance
2,200
Equipment
Accumulated Depreciation - Equipment
105,600
8,800
Trademarks
2,090
Accounts Payable
22,000
Salaries & Wages Payable
1,100
4,400
19,800
Unearned Service Revenue
Bonds Payable, Due 2019
Common Stock
22,000
Retained Earnings
55,000
Service Revenue
22,000
Salaries & Wages Expense
19,800
Insurance Expense
3,080
Rent Expense
2,640
Interest Expense
1,980
Total
?
Net Loss for the Year was $5,500
No Dividends were declared during 2015
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