8. (TCO D) The adjusted trial balance of Cavamanlis Co. as of December 31, 2011 contains the following.
|
Account Titles |
Dr |
Cr |
|
Cash |
$18,972 |
|
|
Accounts Receivable |
6,920 |
|
|
Prepaid Rent |
4,280 |
|
|
Equipment |
20,050 |
|
|
Accumulated Depreciation |
$5,895 |
|
|
Notes Payable |
5,700 |
|
|
Accounts Payable |
4,472 |
|
|
Common Stock |
20,000 |
|
|
Retained Earnings |
15,310 |
|
|
Dividends |
4,000 |
|
|
Service Revenue |
12,590 |
|
|
Salaries Expense |
6,840 |
|
|
Rent Expense |
2,760 |
|
|
Depreciation Expense |
145 |
|
|
Interest Expense |
83 |
|
|
Interest Payable |
83 |
|
|
$64,050 |
$64,050 |
Instructions:
Prepare in good form a balance sheet for the year ended December 31, 2011. (Points : 15)