Presented below is the adjusted trial balance of Kelly Corporation at\nDecember 31, 2014.\nAdditional information:\n1. Net loss for the year was $2,500.\n
Presented below is the adjusted trial balance of Kelly Corporation at
\r\nDecember 31, 2014.
\r\nAdditional information:
\r\n1. Net loss for the year was $2,500.
\r\n2. No dividends were declared during 2014.
\r\nInstructions
\r\nPrepare a classified balance sheet as of December 31, 2014.
\r\nDebit Credit
\r\nCash $ ?
\r\nSupplies 1,200
\r\nPrepaid Insurance 1,000
\r\nEquipment 48,000
\r\nAccumulated Depreciation—Equipment $ 4,000
\r\nTrademarks 950
\r\nAccounts Payable 10,000
\r\nSalaries and Wages Payable 500
\r\nUnearned Service Revenue 2,000
\r\nBonds Payable (due 2021) 9,000
\r\nCommon Stock 10,000
\r\nRetained Earnings 25,000
\r\nService Revenue 10,000
\r\nSalaries and Wages Expense 9,000
\r\nInsurance Expense 1,400
\r\nRent Expense 1,200
\r\nInterest Expense 900
\r\nTotal $ ? $ ?