The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Accounts Debit Credit Cash $17,000 168,000 9,000 28,000 Accounts receivable Prepaid rent Supplies Equipment Accumulated depreciation Accounts payable Salaries payable Interest payable Notes payable (due in two years) 350,000 $129,000 20,000 3,800 1,200 30,000 160,000 183,200 Common stock Retained earnings Dividends 29,000 Service revenue Salaries expense Advertising expense 420,000 188,000 71,000 16,000 32,000 2,200 37,000 Rent expense Depreciation expense Interest expense Utilities expense Totals $ 947,200 $947,200 Prepare a classified balance sheet for China Tea Company as of December 31, 2021. (Amounts to be deducted sh with a minus sign.)
The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Accounts Debit Credit Cash $17,000 168,000 9,000 28,000 Accounts receivable Prepaid rent Supplies Equipment Accumulated depreciation Accounts payable Salaries payable Interest payable Notes payable (due in two years) 350,000 $129,000 20,000 3,800 1,200 30,000 160,000 183,200 Common stock Retained earnings Dividends 29,000 Service revenue Salaries expense Advertising expense 420,000 188,000 71,000 16,000 32,000 2,200 37,000 Rent expense Depreciation expense Interest expense Utilities expense Totals $ 947,200 $947,200 Prepare a classified balance sheet for China Tea Company as of December 31, 2021. (Amounts to be deducted sh with a minus sign.)
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 9PB: Elegant Linens uses the balance sheet aging method to account for uncollectible debt on receivables....
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