Problem
Terry Poller established 2011
12/31/12 Trial Balance before closing entries
Debit Credit
Unearned Fees 3,000
Accounts recievable 7,000
Repair fees revenue 32,000
Cash 19,000
Accounts Payable 12,500
Equipment 34,000
Rent expense 14,000
Cleaning fees revenue 40,500
Supplies 11,000
Notes Payable 15,000
Common Stock 42,000
Salary Expense 28,000
Supplies Expense 7,000
Trucks 24,000
Retained Earnings 10,000
Dividends 11,000
What amount should be reported for total currents assets? Show all computations.
What amount should be reported for total Property, Plant, and equipment? Show all computations.
What amount should be reported for total current liabilities? Show all computations.
What amount should be reported for total long term liabilities? Show all computations.
Prepare the stockholders equity section of the 12/31/12 classified balance sheet. Do NOT just compute stockholders equity amount. Show computations.
What amount should be reported for total liabilities and stockholders equity? Show all computations.