Balance Sheet Presentation
Balance Sheet Presentation
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E5-11 (Balance Sheet Presentation) Presented below is the adjusted trial balance of Kelly Corporation at December 31, 2014.
| Debits | Credits | |
| Cash | ?? | |
| Supplies | $1,200 | |
| Prepaid Insurance | 1,000 | |
| Equipment | 48,000 | |
| Accumulated Depreciation – Equipment | $4,000 | |
| Trademarks | 950 | |
| Accounts Payable | 10,000 | |
| Salaries and Wages Payable | 500 | |
| Unearned Service Revenue | 2,000 | |
| Bonds Payable, due 2021 | 9,000 | |
| Common Stock | 10,000 | |
| Retained Earnings | 25,000 | |
| Service Revenue | 10,000 | |
| Salaries and Wages Expense | 9,000 | |
| Insurance Expense | 1,400 | |
| Rent Expense | 1,200 | |
| Interest Expense | 900 | |
| Total | ?? | ?? |
Instructions:
Prepare a classified balance sheet as of December 31, 2014.
