John’s Cleaning Services, Inc. has the following adjustedaccount balances as of March 31, 2015. Prepare a classified balancesheet as of that date.
Account
Debit
Credit
Cash
$600
Common Stock
31,650
Inventory
2,000
Prepaid Rent
4,400
Building
50,000
Salaries Expense
1,000
Long-Term Investments
50,500
Accounts Payable
6,000
Rent Expense
1,000
Income Tax Payable
15,630
Long-Term Notes Payable
8,000
Accumulated Depreciation- Building
7,500
Retained Earnings
2,520
Service Revenue
41,000
Short-Term Investments
1,800
Insurance Expense
2,000
Current Portion of Long-Term Note Payable
2,500
Depreciation Expense- Building
1,500
Totals
$114,800
$114,800
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