Brar Maintenance Company showed the following adjusted trial balance information for its December 31, 2020, year-end. Required
Question:
Brar Maintenance Company showed the following adjusted trial balance information for its December 31, 2020, year-end.
Required
Prepare a classified balance sheet for Brar Maintenance Company at December 31, 2020.
Balance SheetBalance 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...
Transcribed Image Text:
Balance Balance Account Account $ 41,700 Accounts payable. Land 81,400 Accounts receivable. 36,000 Machinery.. Merchandise inventory 289,000 Accum. deprec., building. 346,000 119,000 Notes payable". Notes receivable, due 2021. Operating expenses. Prepaid rent. Accum. deprec., machinery. 119,000 184,000 Allowance for doubtful accounts. 1,100 22,000 Building. Cash. 520,000 895,900 18,300 36,000 Estimated warranty liabilities 10,300 Revenue. 1,140,000 118,600 Salaries & admin expense. Interest payable. Jake Brar, capital 530 Salaries payable. 257,125 7,100 Interest receivable. 55 Unearned revenue. 29,400 ......
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Brar Maintenance Company Balance Sheet December 31 2020 Assets Current assets Cash 18300 Account...View the full answer
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Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1260305838
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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