E5-11 (balance sheet presentation) presented below is the adjusted

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.

 

 

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