Financial Statements and Closing Entries You can download the following information.   Williams Inc. has the following information for calendar year 2020:    2020 Prepaid Insurance 400 Bank Service Charge Expense 30 Allowance for Doubtful Accounts 80 Cost of Goods Sold 5,900 Inventory 550 Rent Expense 20 Common Stock 14,000 Depreciation Expense 800 Sales Revenue 14,925 Income Tax Expense 2,400 Cash 3,700 Bad Debt Expense 75 Accounts Receivable 1,300 Interest Revenue 5 Accumulated Depreciation 3,750 Retained Earnings 15,550 Salaries Expense 1,200 Dividends 50 Building 32,375 Accounts Payable 490 Prepare, in good form, the classified Balance Sheet ONLY through the Current Asset section for Williams Inc. for 2020.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Financial Statements and Closing Entries

You can download the following information.

 

Williams Inc. has the following information for calendar year 2020: 

 

2020

Prepaid Insurance

400

Bank Service Charge Expense

30

Allowance for Doubtful Accounts

80

Cost of Goods Sold

5,900

Inventory

550

Rent Expense

20

Common Stock

14,000

Depreciation Expense

800

Sales Revenue

14,925

Income Tax Expense

2,400

Cash

3,700

Bad Debt Expense

75

Accounts Receivable

1,300

Interest Revenue

5

Accumulated Depreciation

3,750

Retained Earnings

15,550

Salaries Expense

1,200

Dividends

50

Building

32,375

Accounts Payable

490

Prepare, in good form, the classified Balance Sheet ONLY through the Current Asset section for Williams Inc. for 2020. 

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