Question: intermediate accounting course E5-11 (Statement of Financial Position Preparation) Presented below is the adjusted trial balance of Abbey Corporation at December 31, 2015. Debit Credit

 intermediate accounting course E5-11 (Statement of Financial Position Preparation) Presented below

intermediate accounting course

E5-11 (Statement of Financial Position Preparation) Presented below is the adjusted trial balance of Abbey Corporation at December 31, 2015. Debit Credit Cash ? Supplies 1,200 Prepaid Insurance 1,000 Equipment 48,000 Accumulated Depreciation Equipment 9,000 Trademarks 950 Accounts Payable 10,000 Salaries and Wages Payable 500 Unearned Service Revenue 2,000 Bonds Payable (due 2022) 9,000 Share Capital - Ordinary 10,000 Retained Earnings 20,000 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 2015. Instructions Prepare a classified statement of financial position as of December 31, 2015

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