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resented below is the adjusted trial balance of Ab...

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resented below is the adjusted trial balance of Abbey Corporation at December 31, 2010. Debits Credits Cash $ ? Office supplies 1,200 Prepaid insurance 1,000 Equipment 48,000 Accumulated depreciation-Equipment $9,000 Trademarks 950 Accounts payable 10,000 Wages payable 500 Unearned service revenue 2,000 Bonds payable, due 2017 9,000 Common stock 10,000 Retained earnings 20,000 Service revenue 10,000 Wages expense 9,000 Insurance expense 1,400 Rent expense 1,200 Interest expense 900 Total $ ? $ ? Additional information: Net loss for the year was $2,500. No dividends were declared during 2010. Prepare a classified balance sheet as of December 31, 2010.

 

Paper#1914 | Written in 18-Jul-2015

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