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Home/ Questions/The Sky Blue Corporation has the following adjusted trial balance at December 31. Prepare a classified...
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Asked: April 13, 20222022-04-13T07:07:41+00:00 2022-04-13T07:07:41+00:00In: Accounting

The Sky Blue Corporation has the following adjusted trial balance at December 31. Prepare a classified…

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The%20Sky%20Blue%20Corporation%20has%20the%20following%20adjusted%20trial%20balance%20at%20December%2031.%20Prepare%20a%20classified...
The Sky Blue Corporation has the following adjusted trial balance at December 31.
Debit Credit
Cash $ 1,240
Accounts Recievable 2,100
Prepare Insurance 2,400
Notes Receivable(long-term) 3,100
Equipment 12,500
Accumulated Depreciation $ 2,800
Accounts Payable 5,520
Salaries and Wages Payable 1,050
Income Taxes Payable 3,000
Unearned Revenue 620
Common Stock 2,500
Retained Earnings 1,040
Dividends 310
Sales Revenue 42,930
Rent Revenue 310
Salaries and Wages Expense 21,800
Depreciation Expense 1,400
Utilities Expense 4,320
Insurance Expense 1,500
Rent Expense 6,100
Income Tax Expense 3,000
Total $ 59,770 $ 59,770

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Prepare a classified Balance sheet at December 31. (Amounts to be deducted by a minus sign.)

♦ Relevant knowledge

Balance sheets are among the most important financial statements created by corporations. The balance sheet displays to readers of balance sheets the financial assets held by the company, its remaining liabilities and the amount of the equity.

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    Lily O'Brien
    2022-04-13T07:21:03+00:00Added an answer on April 13, 2022 at 7:21 am

    The%20Sky%20Blue%20Corporation%20has%20the%20following%20adjusted%20trial%20balance%20at%20December%2031.%20Prepare%20a%20classified...The%20Sky%20Blue%20Corporation%20has%20the%20following%20adjusted%20trial%20balance%20at%20December%2031.%20Prepare%20a%20classified...

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