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Homework answers / question archive / The adjusted trial balance for China Tea Company at December 31, 2006 is presented below: Debit Credit Cash 10,500 Accounts receivable 150,000 Allowance for uncollectible accounts 10,000 Prepaid rent 5,000 Inventory 25,000 Equipment 300,000 Accumulated depreciation - equipment 125,000 Accounts payable 20,000 Notes payable - due in three months 30,000 Salaries payable 4,000 Interest payable 1,000 Capital stock 200,000 Retained earnings 50,000 Sales revenue 400,000 Costs of goods sold 180,000 Salaries expense 120,000 Rent expense 15,000 Depreciation expense 30,000 Interest expense 2,000 Bad debt expense 2,500 _______ _______ Totals 840,000 840,000 Prepare a classified balance sheet for China Tea Company as of December 31, 2006

The adjusted trial balance for China Tea Company at December 31, 2006 is presented below: Debit Credit Cash 10,500 Accounts receivable 150,000 Allowance for uncollectible accounts 10,000 Prepaid rent 5,000 Inventory 25,000 Equipment 300,000 Accumulated depreciation - equipment 125,000 Accounts payable 20,000 Notes payable - due in three months 30,000 Salaries payable 4,000 Interest payable 1,000 Capital stock 200,000 Retained earnings 50,000 Sales revenue 400,000 Costs of goods sold 180,000 Salaries expense 120,000 Rent expense 15,000 Depreciation expense 30,000 Interest expense 2,000 Bad debt expense 2,500 _______ _______ Totals 840,000 840,000 Prepare a classified balance sheet for China Tea Company as of December 31, 2006

Accounting

The adjusted trial balance for China Tea Company at December 31, 2006 is presented below:

Debit Credit
Cash 10,500
Accounts receivable 150,000
Allowance for uncollectible accounts 10,000
Prepaid rent 5,000
Inventory 25,000
Equipment 300,000
Accumulated depreciation - equipment 125,000
Accounts payable 20,000
Notes payable - due in three months 30,000
Salaries payable 4,000
Interest payable 1,000
Capital stock 200,000
Retained earnings 50,000
Sales revenue 400,000
Costs of goods sold 180,000
Salaries expense 120,000
Rent expense 15,000
Depreciation expense 30,000
Interest expense 2,000
Bad debt expense 2,500
_______ _______
Totals 840,000 840,000
Prepare a classified balance sheet for China Tea Company as of December 31, 2006.

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