Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. **create a classified balance sheet at december 31

**create a classified balance sheet at December 31, 2016 (ignore income tax) using the following...

50.1K

Verified Solution

Question

Accounting

**create a classified balance sheet at December 31, 2016 (ignore income tax) using the following information from Walmart in 2016**

WALMART Adjusted Trial Balance Data December 31, 2016

Accounts Payable

$12,000

Accounts Receivable

13,000

Accumulated Depreciation-Building

6,000

Accumulated Depreciation-Equipment

9,000

Building

60,000

Common Stock

40,000

Cash

24,000

Copyrights

22,000

Dividends paid

12,000

Equipment

15,000

Land

25,000

Note Payable (10%, due in 5 years)

40,000

Office Supplies ending balance

1,000

Prepaid Insurance

3,000

Retained Earnings (January 1, 2016)

23,000

Wages Payable

2,000

Service Revenue

85,000

Wages Expense

28,000

Utilities Expense

2,000

Depreciation Expense

5,000

Insurance Expense

2,000

Interest Expense

4,000

OTHER INFO:

a. office supplies beginning balance: 500.

b. office supplies purchased during the year: 1500.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

Static Budget versus Flexible Budget The production supervisor of the Machining Department for Niland Company agreed to...

Basic Math
1.2K views

The initial swing of the tip of a pendulum is 45 cm If each swing...

Basic Math
1.2K views

Find the minimum and maximum values of the objective function and the points at which...

Basic Math
1.2K views

Convert 5?/6 radians into degrees:Convert 2?/3 radians into degrees:Convert 7?/4 radians into degrees:Convert ? radians...

Basic Math
1.2K views

Jenny bought 3.5 pounds of peanuts for $12.60. Her friend buys 6.25 pounds of walnuts...

Calculus
1.2K views

propriate Determine the metric unit tha

Algebra
1.2K views

Suppose you deposited 80 per month into a savings plan for 6 years and at...

Accounting
1.2K views

EX: 5.3. Mendel Manufacturing produces composite window frames for airline manufacturing companies. At the start...

Accounting
1.2K views

Shahia Company bought a building for $82,000 cash and the land on which...

Accounting
1.2K views

El siguiente cuadro de informacin se relaciona con Lumos, Inc. para el ao terminado el...

Accounting
1.2K views

1. Why is the closing process important? 2. compare and contrast the Statement of Cash...

Accounting
1.2K views

If blurry zoom in thanks for the help! ...