(Balance Sheet Preparation) Presented below is the adjusted trial balance of Abbey Corporation at December 31, 2012.
|
Debits |
Credits |
|
|
Cash |
$ ? |
|
|
Supplies |
1,200 |
|
|
Prepaid Insurance |
1,000 |
|
|
Equipment |
48,000 |
|
|
Accumulated Depreciation—Equipment |
$9,000 |
|
|
Trademarks |
950 |
|
|
Accounts Payable |
10,000 |
|
|
Salaries and Wages Payable |
500 |
|
|
Unearned Service Revenue |
2,000 |
|
|
Bonds Payable (due 2017) |
9,000 |
|
|
Common Stock |
10,000 |
|
|
Retained Earnings |
20,000 |
|
|
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 2012.
Instructions
Prepare a classified balance sheet as of December 31, 2012.