E5-11 (Balance Sheet Presentation) Presented below is the adjusted trial balance of Kelly Corporation at December 31, 2014.
		Debits	Credits
Cash		??
Supplies		$1,200
Prepaid Insurance		1,000
Equipment		48,000
Accumulated Depreciation - Equipment			$4,000
Trademarks		950
Accounts Payable			10,000
Salaries and Wages Payable			500
Unearned Service Revenue			2,000
Bonds Payable, due 2021			9,000
Common Stock			10,000
Retained Earnings			25,000
Service Revenue			10,000
Salaries and Wages Expense		9,000
Insurance Expense		1,400
Rent Expense		1,200
Interest Expense		900
Total		??	??
Additional information:
1. Net loss for the year was	$2,500
2. No dividends were declared during 2014.
Instructions:
Prepare a classified balance sheet as of December 31, 2014.
Solution to cash as desired.
KELLY CORPORATION
Balance Sheet
December 31, 2014
Assets
Current assets
Account Title			Amount
Account Title			Amount
Account Title			Amount
Total current assets				Formula
Account Title			Amount
Account Title			Amount	Formula
Account Title				Amount
Total assets				Formula
Liabilities and Shareholders Equity
Current liabilities
Account Title			Amount
Account Title			Amount
Account Title			Amount
Total current liabilities				Formula
Account Title				Amount
Total liabilities				Formula
Shareholders equity
Account Title			Amount
Account Title			Amount
Total shareholders equity				Formula
Total liabilities and shareholders equity				Formula
	Computation of retained earnings:
	Account Title			Amount
	Title			Amount
	Account Title			Formula
	or:
	Title			Formula
	Less: Account Title		Amount
	Less: Account Title		Amount
	Less: Account Title		Amount
	Less: Account Title		Amount	Formula
	Period Net income / (Net loss)			Formula
	Title			Amount
	Title			Formula