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The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented belov Accounts Debit Credit 12,000 150,000 6,000 30,000 400,000 Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings 135,000 $ 12,000 11,000 5,000 40,000 300,000 60,000 500,000 Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense 400,000 20,000 40,000 5,000 Totals $1,063,000 $1,063,000 3. Prepare a classified balance sheet as of December 31, 2021. (Amounts to be deducted should be indicated

The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented belov Accounts Debit Credit 12,000 150,000 6,000 30,000 400,000 Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings 135,000 $ 12,000 11,000 5,000 40,000 300,000 60,000 500,000 Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense 400,000 20,000 40,000 5,000 Totals $1,063,000 $1,063,000 3. Prepare a classified balance sheet as of December 31, 2021. (Amounts to be deducted should be indicated

FINANCIAL ACCOUNTING
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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Can you tell me how to prepare this balance sheet?
Required information [The following information applies to the questions displayed below.] The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below Accounts Debit Credit 12,000 $ 150,000 6,000 30,000 400,000 Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock $ 135,000 12,000 11,000 5,000 40,000 300,000 60,000 Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense 500,000 400,000 20,000 40,000 5,000 Totals $1,063,000 $1,063,000 3. Prepare a classified balance sheet as of December 31, 2021. (Amounts to be deducted should be indicated b < Prev of 4 Next APR 4. 27 W 80 F3 LLL 000 F4 44 F7 F2 F5
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below Accounts Debit Credit 12,000 $ 150,000 6,000 30,000 400,000 Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock $ 135,000 12,000 11,000 5,000 40,000 300,000 60,000 Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense 500,000 400,000 20,000 40,000 5,000 Totals $1,063,000 $1,063,000 3. Prepare a classified balance sheet as of December 31, 2021. (Amounts to be deducted should be indicated b < Prev of 4 Next APR 4. 27 W 80 F3 LLL 000 F4 44 F7 F2 F5
Required information December 31, 2021 Assets Liabilities Current assets: Current liabilities: Accounts Receivable 2$ 150,000 Accounts Payable 2$ 12,000 Cash 12,000 Salaries Payable 11,000 Prepaid Rent 6,000 Interest Payable 5,000 Supplies 30,000 Accumulated Depreciation 135,000 Equipment 400,000 Total current assets 598,000 Total current liabilities 163,000 Total liabilities 163,000 Long-term assets: Stockholders' Equity Common Stock 300,000 Retained Earnings 65,000 Total long-term assets Total stockholders' equity 365,000 Total assets 2$ 598,000 Total liabilities and stockholders' equity 2$ 528,000 < Prev 4 of 4 Next> APR 27 W 20 F3 000 F4 F5 FIO
Transcribed Image Text:Required information December 31, 2021 Assets Liabilities Current assets: Current liabilities: Accounts Receivable 2$ 150,000 Accounts Payable 2$ 12,000 Cash 12,000 Salaries Payable 11,000 Prepaid Rent 6,000 Interest Payable 5,000 Supplies 30,000 Accumulated Depreciation 135,000 Equipment 400,000 Total current assets 598,000 Total current liabilities 163,000 Total liabilities 163,000 Long-term assets: Stockholders' Equity Common Stock 300,000 Retained Earnings 65,000 Total long-term assets Total stockholders' equity 365,000 Total assets 2$ 598,000 Total liabilities and stockholders' equity 2$ 528,000 < Prev 4 of 4 Next> APR 27 W 20 F3 000 F4 F5 FIO
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