2024 – E5 11 Balance Sheet Presentation Presented below is the adjusted trial balance of Kelly Corporation at December 31 2014
Presented Below Is The Adjusted Trial Balance Of Kelly Corporation At December 31, 2014. – 2024
E5-11 (Balance Sheet Presentation) Presented below is the adjusted trial balance of Kelly Corporation at December 31, 2014.
|
Debits |
Credits |
|
|
Cash |
?? |
|
|
Supplies |
$1,200 |
|
|
Prepaid Insurance |
1,000 |
|
|
Equipment |
48,000 |
|
|
Accumulated Depreciation – Equipment |
|
$4,000 |
|
Trademarks |
950 |
|
|
Accounts Payable |
|
10,000 |
|
Salaries and Wages Payable |
|
500 |
|
Unearned Service Revenue |
|
2,000 |
|
Bonds Payable, due 2021 |
|
9,000 |
|
Common Stock |
|
10,000 |
|
Retained Earnings |
|
25,000 |
|
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 2014.
Instructions:
Prepare a classified balance sheet as of December 31, 2014.
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