Brar Maintenance Company showed the following adjusted trial balance information for its December 31, 2023, year-end. *Assume
Question:
Brar Maintenance Company showed the following adjusted trial balance information for its December 31, 2023, year-end.
*Assume all accounts have a normal balance.
**$146,000 of the note payable is due beyond December 31, 2024.
RequiredPrepare a classified balance sheet for Brar Maintenance Company at December 31, 2023.
Account Accounts payable...... Accounts receivable........ Accum. deprec., building............. Accum. deprec., machinery.... Allowance for doubtful accounts..... Building... Cash... Estimated warranty liabilities.. Interest payable......... Interest receivable.. Jake Brar, capital.... Land................. Machinery.... Merchandise inventory... Notes payable**... Notes receivable, due 2024.. Operating expenses... Prepaid rent.... Revenue...... Salaries & admin expense......... Salaries payable... Unearned revenue... Balance* $ 41,700 36,000 346,000 119,000 1,100 520,000 18,300 10,300 530 55 257,125 81,400 289,000 119,000 184,000 22,000 895,900 36,000 1,140,000 118,600 7,100 29,400
Step by Step Answer:
Assets Current assets Cash Accounts receivable Less Allowance for doubtful accounts Notes receiv...View the full answer
Fundamental Accounting Principles Volume 2
ISBN: 9781260881332
17th Canadian Edition
Authors: Kermit D. Larson, Heidi Dieckmann, John Harris
Related Video
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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