The December 31, 2021, adjusted trial balance for the Blueboy Cheese Corporation is presented b Account Title Cash Debits Credits 17,300 340,000 14,000 53,000 630,000 Accounts receivable Prepaid rent Inventory Office equipment Accumulated depreciation Accounts payable Notes payable (due in six months) Salaries payable Interest payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Advertising expense 262,000 76,000 69,000 7,700 2,300 400,000 160,000 770,000 462,000 115,500 42,000 63,000 4,600 5,600 Totals 1,747,000 1,747,000 Required: 1-a. Prepare an income statement for the year ended December 31, 2021. 1-b. Prepare a classified balance sheet as of December 31, 2021.

The December 31, 2021, adjusted trial balance for the Blueboy Cheese Corporation is presented b Account Title Cash Debits Credits 17,300 340,000 14,000 53,000 630,000 Accounts receivable Prepaid rent Inventory Office equipment Accumulated depreciation Accounts payable Notes payable (due in six months) Salaries payable Interest payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Advertising expense 262,000 76,000 69,000 7,700 2,300 400,000 160,000 770,000 462,000 115,500 42,000 63,000 4,600 5,600 Totals 1,747,000 1,747,000 Required: 1-a. Prepare an income statement for the year ended December 31, 2021. 1-b. Prepare a classified balance sheet as of December 31, 2021.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 6MC: Prior to adjustments, Barrett Companys account balances at December 31, 2019, for Accounts...

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