Catena's Marketing Company has the following adjusted trial balance at December 31, 2021. No dividends...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Catena's Marketing Company has the following adjusted trial balance at December 31, 2021. No dividends were declared. However, 480 shares issued at the end of the year for $4,800 are included below: Debit Credit Cash $ 3,300 Accounts receivable 4,888 Interest receivable 280 Prepaid insurance 3,400 Notes receivable (long-term) 4,600 Equipment 17,990 Accumulated depreciation $ 4,800 Accounts payable 4,200 Accrued expenses payable 4,820 Income taxes payable 3,600 Deferred rent revenue 1,400 Contributed capital (960 shares) 5,500 Retained earnings 3,880 Sales revenue 45,700 Interest revenue 280 Rent revenue 1,700 Wages expense 21,380 Depreciation expense Utilities expense 560 Insurance expense Rent expense 10,800 Income tax expense Total $75,080 $75,880 2,700 1,650 4,500 Pronare a classified statement of financial position at December 31, 2021 Prepare a classified statement of financial position at December 31, 2021. CATENA'S MARKETING COMPANY Statement of Financial Position At December 31, 2021 Assets Current assets: Total current assets Total assets Liabilities Current liabilities: Total assets Liabilities Current liabilities: Total current liabilities Shareholders' equity Total shareholders' equity Total liabilities and shareholders' equity
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!