accounting question: TUNSTALL, INCORPORATED Balance Sheet At December 31 of the Current Year Current assets Cash $

 accounting question:

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TUNSTALL, INCORPORATED Balance Sheet At December 31 of the Current Year Current assets Cash $ 47,400 Current liablities Accounts payable $ 2,320 Accounts receivable 11,900 Wages payable 570 Supplies 410X Income taxes payable Interest payable 5,780 400 Total current assets $ 59,710 Total current liabilities $ 9,070 Service trucks 16,300 Note payable, long-term 16,000 Accumulated depreciation (1,300) $ 25,070 Total liabilities Stockholders' equity Common stock Additional paid-in capital Retained earnings 1,946 17,514 27,590 Total stockholders' equity $ 47,050 Total assets $ 74,710 Total liabilities and stockholders' equity $ 72,120 TUNSTALL, INCORPORATED Balance Sheet At December 31 of the Current Year Current assets Cash $ 47,400 Current liablities Accounts payable $ 2,320 Accounts receivable 11,900 Wages payable 570 Supplies 410X Income taxes payable Interest payable 5,780 400 Total current assets $ 59,710 Total current liabilities $ 9,070 Service trucks 16,300 Note payable, long-term 16,000 Accumulated depreciation (1,300) $ 25,070 Total liabilities Stockholders' equity Common stock Additional paid-in capital Retained earnings 1,946 17,514 27,590 Total stockholders' equity $ 47,050 Total assets $ 74,710 Total liabilities and stockholders' equity $ 72,120

Answer rating: 100% (QA)

ANSWER Adjusted Trial Balance for Tunstall Incorporated At December 31 Account Title Debit Credit Ca... View the full answer