Maggie Good, a junior accountant, has the December 31, 2021, trial balance of Lawrence Company sitting on
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Maggie Good, a junior accountant, has the December 31, 2021, trial balance of Lawrence Company sitting on her desk. Attached is a memo from her supervisor requesting that a classified balance sheet be prepared. Maggie gathers the following data:
a. A physical inventory at December 31 showed $70,000 on hand.
b. The cost of office supplies on hand was $600.
c. Insurance unexpired was $750.
d. Depreciation (straight-line) is based on a 25-year life.
Using the following trial balance of Lawrence Co., assist Maggie with this project. Ending figure for capital is $105,850.
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Related Book For
College Accounting A Practical Approach
ISBN: 9780135222416
14th Canadian Edition
Authors: Jeffrey Slater, Debra Good
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