Presented below is the adjusted trial balance of Abbey Corporation at December 31, 2012. Additional information:1. Net

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Presented below is the adjusted trial balance of Abbey Corporation at December 31, 2012.

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Additional information:1. Net loss for the year was $2,500.2. No dividends were declared during 2012.InstructionsPrepare a classified balance sheet as of December 31,2012.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Intermediate Accounting

ISBN: 978-0470587287

14th Edition

Authors: kieso, weygandt and warfield.

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