Question: Prepare a Balance Sheet dated Dec. 31, 2020 Your Name, Inc. Adjusted Trial Balance 31-Dec-20 DEBITS CREDITS Cash 35,100 Marketable Securities 1,000 Accounts Rec. 150,000
Prepare a Balance Sheet dated Dec. 31, 2020
| Your Name, Inc. | |||
| Adjusted Trial Balance | |||
| 31-Dec-20 | |||
| DEBITS | CREDITS | ||
| Cash | 35,100 | ||
| Marketable Securities | 1,000 | ||
| Accounts Rec. | 150,000 | ||
| Allowance for Bad Debt | 5,500 | ||
| Inventory | 3,000 | ||
| Prepaid Insurance | 7,500 | ||
| Land | 30,000 | ||
| Building | 150,000 | ||
| Accumulated Dep. - Building | 50,000 | ||
| Equipment | 120,000 | ||
| Accumulated Dep. - Equipment | 43,000 | ||
| Accounts Payable | 12,000 | ||
| Salaries Payable | 1,100 | ||
| Unearned Revenue | 0 | ||
| Interest Payable | 1,120 | ||
| Income Taxes Payable | 9,496 | ||
| Note Payable | 56,000 | ||
| Bonds | 100,000 | ||
| Common Stock | 60,000 | ||
| Additional Pd-in-Capital | 100,000 | ||
| Retained Earnings | 22,000 | ||
| Sales | 330,000 | ||
| Cost of Goods Sold | 198,000 | ||
| Bad Debt Expense | 7,500 | ||
| Depreciation Expense - Equipment | 23,000 | ||
| Depreciation Exp. - Build. | 5,000 | ||
| Salaries Expense | 26,400 | ||
| Gain | 200 | ||
| Interest Expense | 1,120 | ||
| Bond Interest Expense | 10,000 | ||
| Insurance Expense | 15,500 | ||
| Treasury Stock | 2,800 | ||
| Dividends | 3,000 | ||
| Revenue | 2,000 | ||
| Income Tax Expense | 9,496 | ||
| 795,416 | 795,416 | ||
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