Use the data for Grease Monkey Auto Supply, Inc., from E4-32B. Refer to E4-32B, Requirement Prepare Grease
Question:
Use the data for Grease Monkey Auto Supply, Inc., from E4-32B.
Refer to E4-32B,
Requirement
Prepare Grease Monkey Auto Supply, Inc.'s classified balance sheet. Use the account format. The balance shown for retained earnings represents the balance prior to closing the temporary accounts for the year?
Transcribed Image Text:
$ 4,900 36,500 4,200 15,000 23,400 21,800 3,100 1,200 $128,800 Cash. Cost of Goods Sold. Accumulated Depreciation, Equipment. Unearned Revenues Equipment. Accounts Payable. 7,600 2,500 Common Stock. Long-Term Notes Payable.. General Expenses. Salaries Payable. Supplies. Sales Revenue.. 265,000 5,100 Accounts Receivable. Accumulated Depreciation, Building. Mortgage Payable (Long-Term) Dividends. 27,800 Building. Sales Returns and 155,000 45,000 65,000 1,400 23,400 13,700 Allowances. 2,200 Prepaid Rent. Retained Earnings. Interest Expense 2,900 69,200 Sales Discounts. Selling Expenses. Inventory.. 900
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