Prepare a classified balance sheet

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Reference no: EM131221514

Presented below is the adjusted trial balance of Pearl Corporation at December 31, 2017. Debit Credit Cash $ ? Supplies 1,490 Prepaid Insurance 1,290 Equipment 48,290 Accumulated Depreciation-Equipment $ 4,290 Trademarks 1,240 Accounts Payable 10,290 Salaries and Wages Payable 790 Unearned Service Revenue 2,290 Bonds Payable (due 2024) 9,290 Common Stock 10,290 Retained Earnings 25,290 Service Revenue 10,290 Salaries and Wages Expense 9,290 Insurance Expense 1,690 Rent Expense 1,490 Interest Expense 1,190 Total $ ? $ ? Additional information: 1. Net loss for the year was $3,370. 2. No dividends were declared during 2017. Prepare a classified balance sheet as of December 31, 2017. (List Current Assets in order of liquidity.)

Reference no: EM131221514

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