he adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Accounts Debit Credit Cash $20,000 162,000 9,000 28,000 370,000 Accounts receivable Prepaid rent Supplies Equipment Accumulated depreciation Accounts payable Salaries payable Interest payable Notes payable (due in two years) $125,000 16,000 3,800 1,700 30,000 190,000 99,300 Common stock Retained earnings Dividends Service revenue Salaries expense Advertising expense 26,000 500,000 Rent expense Depreciation expense Interest expense Utilities expense 182,000 79,000 11,000 38,000 2,800 38,000 $ 965,800 Totals $965,800 Prepare a classified balance sheet for China Tea Company as of December 31, 2021. (Amounts to be deducte with a minus sign.)

he adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Accounts Debit Credit Cash $20,000 162,000 9,000 28,000 370,000 Accounts receivable Prepaid rent Supplies Equipment Accumulated depreciation Accounts payable Salaries payable Interest payable Notes payable (due in two years) $125,000 16,000 3,800 1,700 30,000 190,000 99,300 Common stock Retained earnings Dividends Service revenue Salaries expense Advertising expense 26,000 500,000 Rent expense Depreciation expense Interest expense Utilities expense 182,000 79,000 11,000 38,000 2,800 38,000 $ 965,800 Totals $965,800 Prepare a classified balance sheet for China Tea Company as of December 31, 2021. (Amounts to be deducte with a minus sign.)

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter3: Accrual Accounting

Section: Chapter Questions

Problem 5MCQ: Dallas Company loaned to Ewing Company on December 1, 2019. Ewing will pay Dallas $720 of interest...

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Prior to adjustments, Barrett Companys account balances at December 31, 2019, for Accounts Receivable and the related Allowance for Doubtful Accounts were 1,200,000 and 60,000, respectively. An aging of accounts receivable indicated that 106,000 of the December 31, 2019, receivables may be uncollectible. The net realizable value of accounts receivable at December 31, 2019, was: a. 1,034,000 b. 1,094,000 c. 1,140,000 d. 1,154,000
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