the following is a december 31 2013 post closing trial balance for the jackson corpo 452728
Aug 29, 2021 | Uncategorized
| The following is a December 31, 2013, post closing trial balance for the Jackson Corporation. |
| Account Title |
Debits |
Credits |
| Cash |
|
51,000 |
|
|
|
|
| Accounts receivable |
|
45,000 |
|
|
|
|
| Inventories |
|
86,000 |
|
|
|
|
| Prepaid rent |
|
27,000 |
|
|
|
|
| Marketable securities (short term) |
|
21,000 |
|
|
|
|
| Machinery |
|
200,000 |
|
|
|
|
| Accumulated depreciation”machinery |
|
|
|
|
22,000 |
|
| Patent (net of amortization) |
|
90,000 |
|
|
|
|
| Accounts payable |
|
|
|
|
13,500 |
|
| Wages payable |
|
|
|
|
9,500 |
|
| Taxes payable |
|
|
|
|
43,000 |
|
| Bonds payable (due in 10 years) |
|
|
|
|
250,000 |
|
| Common stock |
|
|
|
|
140,000 |
|
| Retained earnings |
|
|
|
|
42,000 |
|
|
|
|
|
|
|
|
| Totals |
|
520,000 |
|
|
520,000 |
|
|
|
|
|
|
|
|
|
| Required: |
|
Prepare a classified balance sheet for Jackson Corporation at December 31, 2013.
|
|
