The following information has been provided by D. Adams who, operating as a sole trader in Carlton, runs a small architect's practice, Adams Architects.
Cash at bank ....................................................$14 300
Wages payable .................................................. 460
Accounts receivable ............................................ 2 200
Capital, D. Adams - 1.1.2013................................. 16 040
Net loss .......................................................... 1 176
Vehicle ........................................................... 19 600
Accumulated depreciation - vehicle .......................... 2 600
Accounts payable ............................................... 860
Prepaid insurance ............................................... $104
Drawings ......................................................... 1 080
Bank loan payable 30 October 2014 ......................... 2 000
Bank loan payable 1 December 2016........................ 16 000
Income received in advance .................................... $500
REQUIRED:
Prepare a classified balance sheet for D. Adams Architects as at 31 December 2013.