ACC 550 Project 1 - SmithCompany ,2010 Assets CurrentAssets...

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Smith Company Classified Balance Sheet For the Year Ended December 31, 2010 Assets Current Assets Cash      15,070  Office  Supplies       2,640  Prepaid  Insurance       2,200  Total  Current  Assets      19,910  Equipment   105,600  Less:  Accumulated  Depreciation- Equipment     (8,800) Total  Property,  Equipment     96,800  Intangible Assets Trademarks       2,090  Total  Intangible  Assets       2,090  Total Assets    118,800  Liabilit ies Current Liabilities Accounts  Payable     22,000 
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Wages  Payable       1,100  Unearned  Service  Revenue       4,400  Total  Current  Liabilities     27,500  Long Term Liabilities Bonds  Payable due  2017     19,800  Total Long  Term  Liabilities     19,800  Stockholde rs' Equity Common  Stock     22,000  Retained  Earnings     49,500  Total  Stockholders ' Equity     71,500     118,800 
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ACC 550 Project 1 - SmithCompany ,2010 Assets CurrentAssets...

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