Task:

Construct a Balance Sheet in good form from the accounts listed in the problem

Credits $ Debits 16,490 54,390 900 1,800 21,600 125,000 Trial Balance 2010 December 31 Cash Accounts Receivable Supplies on Hand Prepaid Fire Insurance Prepaid Rent Equipment Accumulated Depreciation Equipment Accounts Payable Notes Rayable Capital Stock Retained Earrings, 2010 January 1 Service Reverne Interest Expense Salaries Expense Advertising Expense Supplies Expense Miscellaneous Expense Legal and Accounting Expense Utilities Experise $ 25,000 29,550 9,000 150,000 20,685 179,010 225 142,200 29,250 2,135 3.705 13,750 1,800 413.245 $ $ 413,245 The company consistently followed the policy of initially debiting all prepaid items to asset accounts. Prepaid fire insurance is USD 600 as of the end of the year. Supplies on hand are USD 638 as of the end of the year. Prepaid rent is USD 2,625 as of the end of the year. The equipment is expected to last 10 years with no salvage value. Accrued salaries are USD 2,625