The following is the Alpha Dog Company adjusted Trail Balance. Alpha Dog Company Adjusted Trial...

Question:

The following is the Alpha Dog Company adjusted Trail Balance.

Alpha Dog Company
Adjusted Trial Balance
December 31, 2016
Account Title Debit Credit
Cash $88,450
Accounts Receivable 181,860
Supplies 36,255
Stock Investment 130,500
Equipment 295,285
Accumulated Depreciation $236,260
Accounts Payable 72,555
Wages Payable 10,000
Capital Stock 220,000
Retained Earnings 111,145
Service Revenue 898,105
Interest Income 1,500
Rent Expense 66,000
Wages Expense 537,260
Supplies Expense 42,520
Depreciation Expense 164,595
Dividends 6,840
Totals $1,549,565 $1,549,565

Prepare only the Asset section of the Classified Balance Sheet for the year end. Be sure to use a good format, dollar signs and single underlines were required. There are a few extra lines in the formatted input answer form to allow for acceptable balance sheet format variations.

Balance Sheet:

The balance sheet is the statement that shows the detail of the total assets, liabilities and shareholders' equity. Each item is shown in a detailed manner so that the company can evaluate its financial position at the end of the year.

Answer and Explanation:

Partial Balance Sheet of Alpha Dog Company as on
Assets: Amount $
Current Assets 88,450
Cash $88,450
Accounts Receivable 181,860
Supplies 36,255
Stock Investment 130,500
Non-Current Assets:
Equipment 295,285
Less: Accumulated Depreciation -236260
Total $584,540


Learn more about this topic:

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Comparative Statements as Balance Sheet Disclosures

from Accounting 201: Intermediate Accounting I

Chapter 4 / Lesson 9
820

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