What amount should be reported for total currents assets

Assignment Help Accounting Basics

Reference no: EM131989370

Problem

Terry Poller established 2011
12/31/12 Trial Balance before closing entries

                                                                    Debit                  Credit
Unearned Fees                                                                         3,000
Accounts recievable                                        7,000
Repair fees revenue                                                                  32,000
Cash                                                             19,000
Accounts Payable                                                                     12,500
Equipment                                                     34,000
Rent expense                                                 14,000
Cleaning fees revenue                                                               40,500
Supplies                                                         11,000
Notes Payable                                                                          15,000
Common Stock                                                                        42,000
Salary Expense                                               28,000
Supplies Expense                                            7,000
Trucks                                                            24,000
Retained Earnings                                                                    10,000
Dividends                                                        11,000

What amount should be reported for total currents assets? Show all computations.

What amount should be reported for total Property, Plant, and equipment? Show all computations.

What amount should be reported for total current liabilities? Show all computations.

What amount should be reported for total long term liabilities? Show all computations.

Prepare the stockholders equity section of the 12/31/12 classified balance sheet. Do NOT just compute stockholders equity amount. Show computations.

What amount should be reported for total liabilities and stockholders equity? Show all computations.

Reference no: EM131989370

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