Question

The following is the Bravo Unlimited adjusted Trial Balance.

Alpha Dog Company
Adjusted Trial Balance
December 31, 2016
Account Title Debit Credit
Cash $88,450
Accounts Receivable 150,000
Supplies 29,255
Stock Investment 172,000
Equipment 295,285
Accumulated Depreciation $238,760
Accounts Payable 78,555
Wages Payable 15,000
Capital Stock 220,000
Retained Earnings 111,145
Service Revenue 895,105
Interest Income 1,500
Rent Expense 64,500
Wages Expense 542,260
Supplies Expense 42,520
Depreciation Expense 167,095
Dividends 8,700 _____
Totals $1,560,065 $1,560,065

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.

Answer 1

Explanation:

The preparation of the Assets section is shown below:-

                                         Alpha Dog Company

                                         Adjusted Trial Balance

                                           December 31, 2016

Particulars                                               Assets

Cash                                                        $88,450

Accounts Receivable                             $150,000

Supplies                                                  $29,255

Total current assets                               $179,255

Fixed Assets

Equipment                            $295,285

Accumulated Depreciation -$238,760  $56,525

Stock Investment                                     $172,000

Total Fixed assets                                    $228,525

Total Assets                                              $407,780

Total Assets = Total current assets + Total fixed assets