The following list of accounts was provided by Churyk Transportation Corporation, which has an April 30 fiscal

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The following list of accounts was provided by Churyk Transportation Corporation, which has an April 30 fiscal year- end. Using these accounts, prepare a balance sheet for Churyk Transportation Corporation for fiscal 2010. 

Accounts Payable ……………………............……… $ 15,600

Accounts Receivable …………………………..........… 25,650

Accumulated Depreciation, Equipment ………. 57,450

Accumulated Depreciation, Buildings ….……… 66,800

Accumulated Depreciation, Trucks ………..…. 780,050

Allowance for Uncollectible Accounts ……..…… 4,700

Equipment ……………………………….............…… 140,500 

Buildings …………………………………...............….. 137,500

Cash …………………………………………..............….. 39,650 

Common Stock ……………………………...........…. 250,000

Installment Note Payable, Long- Term …..… 342,700

Interest Payable ……………………………...........….. 17,150

Investment in BR, Inc., Common Stock ………. 17,500

Land ……………………………………................………. 57,850

Mortgage Payable ……………………….........……… 44,150

Trade Notes Payable ……………………….........…. 58,500

Payroll Taxes Payable ……………………..........…… 7,450

Prepaid Insurance ………………………..........…… 18,250

Retained Earnings …………………………............………. ?

Salaries and Wages Payable ………….....……… 13,400

Supplies ……………………………………................….. 8,900

Temporary Investments (trading securities) … 60,750

Trucks ………………………….................………….. 1,392,700

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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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