Sally Livaskani has a storage organization business called Livaskani Design.
Please see below the chart of accounts with balances for the year ended Dec 31, Year 2022 in alphabetical order:
Livaskani Design TRIAL BALANCE December 31st, 2022
Account name		Debit	Credit
		$	$
Accounts Payable			30,000
Accounts Receivable		58,000
Accumulated Depreciation – Equipment			10,000
Advertising Expense		17,000
Cash		54,000
Capital, Livaskani			109,000
Depreciation Expenses		6,000
Equipment		60,000
Goodwill		60,000
Income tax expense		7,000
Income tax payable			7,000
Note Payable (instalments of $2,000/year)			20,000
Office and general expense		22,000
Prepaid Rent		10,000
Rent Expense		80,000
Revenues			630,000
Salary Expense		414,000
Travel Expense		37,000
Unearned Service Revenue			19,000
Totals		825,000	825,000

Prepare classified Balance Sheet as at Dec 31, 2022

Answer rating: 100% (QA)

To prepare a classified balance sheet as at December 31 2022 we need to categorize the accounts into ... View the full answer