Activity 3.b - More Practice with Preparing the Balance Sheet Prepare the Balance Sheet from the Adjusted Trial Balance and Statement of Owner's Equity. Within each section of the statement, enter the accounts, the account balances and calculate ending balances. Enter any decreases with a minus sign or parentheses. Cash Accounts Receivable Office Supplies Prepaid Rent Furniture Accumulated Depreciation--Furniture Accounts Payable Salaries Payable Interest Payable Unearned Revenue Notes Payable Bright, Capital Bright, Withdrawals Service Revenue Depreciation Expense--Furniture Interest Expense Rent Expense Salaries Expense Account Title SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 Balance Bright, Capital, December 1, 2016 Debit Credit Net income for the month 14,100 7,800 100 9,400 16,400 5,600 1,800 400 200 4,700 6,500 18,600 24,200 42,900 1,800 200 2,800 3,200 Bright, Withdrawals Bright, Capital, December 31, 2016 SMART TOUCH LEARNING Statement of Owner's Equity Month Ended December 31, 2016 ? HINT 18,600 34,200 52,800 (24,200) 28,600 Bright, Capital Bright. Withdrawals Service Revenue Depreciation Expense Furniture Interest Expense Rent Expense Salaries Expense Supplies Expense Total cash accounts receivable office supplies prepaid rent furniture Less: Assets 24,200 18,600 42,900 1,800 200 2,800 3,200 700 80,700 80,700 16400 accumulated depreciation furniture -5600 Total Assets SMART TOUCH LEARNING Balance Sheet December 31, 2016 14100 accounts payable 7800 salaries payable 100 interest payable 9400 unearned revenue notes payable Total Liabilities bright, capital Total Liabilities and Owner's Equity Liabilities 1800 400 200 4700 6500 13600 Owner's Equity [18,500)