9 - Bowling Revenues 14,180 Depreciation Expense 7,360...

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The adjusted trial balance for Karr Bowling Alley at December 31, 2008, contains the following accounts. Debits Credits Building $128,800 Sue Karr, Capital $115,000 Accounts Receivable 14,520 Accumulated Depreciation-Building 42,600 Prepaid Insurance 4,680 Accounts Payable 12,300 Cash 18,040 Note Payable 97,780 Equipment 62,400 Accumulated Depreciation-Equipment 18,720 Land 64,000 Interest Payable 2,600 Insurance Expense 780
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Unformatted text preview: Bowling Revenues 14,180 Depreciation Expense 7,360 $303,180 Prepare a classified balance sheet; assume that $13,900 of the note payable will be paid in 2009. (List assets in order of liquidity and liabilities in descending order of amount.) KARR BOWLING ALLEY Balance Sheet December 31, 2008 Assets Current Assets $ Property, plant and equipment $ Less: Equipment Less:...
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9 - Bowling Revenues 14,180 Depreciation Expense 7,360...

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