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n 5 16 7 8 9 10 11 12 Restructuring Costs Sales revenue Interest revenue Interest expense Cost of Goods Sold Selling and Administrative Expense 13 Cash and cash equivalents 14 Investment in equity securities Accounts receivable 15 16 Inventory 17 Prepaid expenses ABC Transportation & Freight Company Trial Balance FYE 12/31/22 31 18 Equipment 19 Prepaid expenses 20 Accounts payable 21 Interest payable 22 Deferred revenue 23 Income taxes payable 24 Notes payable 25 Current maturities of long-term debt 26 Notes payable 27 Common stock (no par value; 800,000 shares authorized; 400,000 shares issued and 28 outstandinal 29 Accumulated depreciation 30 Retained earnings Allowance for uncollectible accounts Totals $ $ $ $ $ $ $ $ $ $ Dr. 1,500 12,000 3,700 1,800 95,000 110,000 160,000 285,000 88,000 320,000 60,000 $1,137,000 $ $ $ $ $ $ $ $ $ $ $ $ Cr. 18,000 1,000 60,000 20,000 80,000 30,000 40,000 20,000 140,000 400,000 110,000 202,000 16,000 $1,137,000

n 5 16 7 8 9 10 11 12 Restructuring Costs Sales revenue Interest revenue Interest expense Cost of Goods Sold Selling and Administrative Expense 13 Cash and cash equivalents 14 Investment in equity securities Accounts receivable 15 16 Inventory 17 Prepaid expenses ABC Transportation & Freight Company Trial Balance FYE 12/31/22 31 18 Equipment 19 Prepaid expenses 20 Accounts payable 21 Interest payable 22 Deferred revenue 23 Income taxes payable 24 Notes payable 25 Current maturities of long-term debt 26 Notes payable 27 Common stock (no par value; 800,000 shares authorized; 400,000 shares issued and 28 outstandinal 29 Accumulated depreciation 30 Retained earnings Allowance for uncollectible accounts Totals $ $ $ $ $ $ $ $ $ $ Dr. 1,500 12,000 3,700 1,800 95,000 110,000 160,000 285,000 88,000 320,000 60,000 $1,137,000 $ $ $ $ $ $ $ $ $ $ $ $ Cr. 18,000 1,000 60,000 20,000 80,000 30,000 40,000 20,000 140,000 400,000 110,000 202,000 16,000 $1,137,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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please prepare a classified balance sheet of Freight company for the year ended december 31,2022

2 3 4 S 6 7 8 Sales revenue Interest revenue 9 Interest expense 10 Cost of Goods Sold 11 Selling and Administrative Expense 12 Restructuring Costs 13. Cash and cash equivalents 14 Investment in equity securities 15 Accounts receivable 16 Inventory 17 Prepaid expenses 18 Equipment 19 Prepaid expenses 20 Accounts payable 21 Interest payable Deferred revenue 22 23 24 25 26 27 28 outstanding) 29 Accumulated depreciation 30 Retained earnings Allowance for uncollectible accounts 31 ABC Transportation & Freight Company Trial Balance FYE 12/31/22 32 Income taxes payable Notes payable Current maturities of long-term debt Notes payable Common stock (no par value; 800,000 shares authorized; 400,000 shares issued and Totals $ $ $ $ $ $ $ $ $ $ $ Dr. 1,500 12,000 3,700 1,800 95,000 110,000 160,000 285,000 88,000 320,000 60,000 $ 1,137,000 $ $ $ $ $ $ $ $ $ $ $ $ Cr. 18,000 1,000 60,000 20,000 80,000 30,000 40,000 20,000 140,000 400,000 110,000 202,000 16,000 $ 1,137,000
Transcribed Image Text:2 3 4 S 6 7 8 Sales revenue Interest revenue 9 Interest expense 10 Cost of Goods Sold 11 Selling and Administrative Expense 12 Restructuring Costs 13. Cash and cash equivalents 14 Investment in equity securities 15 Accounts receivable 16 Inventory 17 Prepaid expenses 18 Equipment 19 Prepaid expenses 20 Accounts payable 21 Interest payable Deferred revenue 22 23 24 25 26 27 28 outstanding) 29 Accumulated depreciation 30 Retained earnings Allowance for uncollectible accounts 31 ABC Transportation & Freight Company Trial Balance FYE 12/31/22 32 Income taxes payable Notes payable Current maturities of long-term debt Notes payable Common stock (no par value; 800,000 shares authorized; 400,000 shares issued and Totals $ $ $ $ $ $ $ $ $ $ $ Dr. 1,500 12,000 3,700 1,800 95,000 110,000 160,000 285,000 88,000 320,000 60,000 $ 1,137,000 $ $ $ $ $ $ $ $ $ $ $ $ Cr. 18,000 1,000 60,000 20,000 80,000 30,000 40,000 20,000 140,000 400,000 110,000 202,000 16,000 $ 1,137,000
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