The following items are taken from the financial statements of Laramie Company for the year ending December 31, 2010: Accounts…

Stuck with a difficult assignment? No time to get your paper done? Feeling confused? If you’re looking for reliable and timely help for assignments, you’ve come to the right place. We promise 100% original, plagiarism-free papers custom-written for you. Yes, we write every assignment from scratch and it’s solely custom-made for you.


Order a Similar Paper Order a Different Paper

The following items are taken from the financial statements of Laramie Company for the year ending December 31, 2010:
Accounts payable $20,000
Interest Payable 8,000
Accounts receivable 21,000
Accumulated depreciation – equipment 28,000
Advertising expense 21,000
Cash 5,000
Laramie, Capital (1/1/10) 100,000
Laramie, Drawing 12,000
Depreciation expense 12,000
Insurance expense 3,000
Note payable, due 6/30/15 60,000
Prepaid insurance (12-month policy) 6,000
Copyright 5,000
Rent expense 17,000
Salaries expense 32,000
Service revenue 130,000
Interest Income 3,000
Supplies 9,000
Supplies expense 6,000
Land 45,000
Equipment 155,000

All accounts have normal balances. All asset, liability, revenue and expense accounts are post adjusting entry balances. Closing entries for 2010 are not reflected in the account balances, so you need to update the Capital Account.

Instructions: Prepare a classified Balance Sheet for the Laramie Company for the year ending December 31, 2010. Include subtotals for classifications and totals for balance sheet sections. There were no additional owner investments during 2010.

Writerbay.net

We’ve proficient writers who can handle both short and long papers, be they academic or non-academic papers, on topics ranging from soup to nuts (both literally and as the saying goes, if you know what we mean). We know how much you care about your grades and academic success. That's why we ensure the highest quality for your assignment. We're ready to help you even in the most critical situation. We're the perfect solution for all your writing needs.

Get a 15% discount on your order using the following coupon code SAVE15


Order a Similar Paper Order a Different Paper