Selected accounts from Lue Company's adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet. Employee federal : Federal unemployme Total equity Equipment Salaries payable Accounts receivable Cash $ 31,100 41,100 35,100 7,500 53,500 5,100 10,000 FICA-Medicare taxe FICA-Social Secur: Current portion of long-term debt Notes payable (due in 6 years) Employee medical : State unemployment Sales tax payable LUE COMPANY Balance Sheet December 31 Assets Current assets Total current assets Plant assets Total assets Liabilities Current liabilities Total current liabilities Long-term liabilities Total liabilities Equity Total equity Total liabilities and equity
Selected accounts from Lue Company's adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet. Employee federal : Federal unemployme Total equity Equipment Salaries payable Accounts receivable Cash $ 31,100 41,100 35,100 7,500 53,500 5,100 10,000 FICA-Medicare taxe FICA-Social Secur: Current portion of long-term debt Notes payable (due in 6 years) Employee medical : State unemployment Sales tax payable LUE COMPANY Balance Sheet December 31 Assets Current assets Total current assets Plant assets Total assets Liabilities Current liabilities Total current liabilities Long-term liabilities Total liabilities Equity Total equity Total liabilities and equity
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter13: Accounting For Payroll And Payroll Taxes
Section: Chapter Questions
Problem 4AP
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