Use the following Adjusted Trial Balance, make a classified balance sheet. Carters Used Cars ADJUSTED...
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Accounting
Use the following Adjusted Trial Balance, make a classified balance sheet.
Carters Used Cars
ADJUSTED TRIAL BALANCE
April 31, 2016
Account Debit Credit
Cash $ 20,000 $
Accounts Receivables 50,000
Allowance for Bad Debts 2,000
Inventory 30,000
Supplies 1,000
Building 250,000
Accumulated Depr.-Building 80,000
Equipment 70,000
Accumulated Depr.- Equipment 60,000
Patents 70,000
Accounts Payable 30,000
Notes Payable (due in 6 months) 5,000
Mortgage Payable (10 years, next yr due = 20,000) 200,000
Common Stock ($1 par) 25,000
Paid in Capital in Excess of Par 15,000
Retained Earnings 49,000
Sales 107,000
Cost of Goods Sold 40,000
Rent Expense 10,000
Wages Expense 20,000
Other Expense 12,000
Totals $573,000 $573,000
======== ========
Common Stock: Authorized: 100,000 shares, Issued and Outstanding: 25,000 shares
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