represents the adjusted trial balance of Alt Company at Debit $17.690 Credit / 523 o...
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represents the adjusted trial balance of Alt Company at Debit $17.690 Credit / 523 o IT 1 L 15,000 70,000 69,000 34.720 / 7.450 / Problem 2. The following list of acco December 31, 2016: Cash Cash restricted for payment of Note Short-term Investment Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory_ Prepaid Rent_ E N Prepaid Insurance Plant and Equipment Accumulated Depreciation Accounts Payable_ Unearned Rent Revenue Notes Payable (long term) Common Stock__ Retained Earnings Sales Cost of Goods Sold_ Utility expense Salaries and Wages Expense Interest Expense Miscellaneous Expense / / / / / / 14,740 11,370 18,000 90,000 170,000 97,180 218,400 S620.190 Instructions (a.) Prepare a classified balance sheet in good form at December 31" 2016. (17 points) (b.) Prepare necessary closing entries (or entry) to close revenue and expenses. (8 points)
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