Question

Just need the classified balance sheeet

Comprehensive Accounting Cycle Review 7 (Part Level Submission) On December 1, 2019, Tamarisk, Inc. had the following account balances. Cash Notes Receivable Accounts Receivable Inventory Prepaid Insurance Equipment Debit $17,800 Accumulated Depreciation-Equipment 2,500 Accounts Payable 7,100 Common Stock 15,900 Retained Earnings 1,600 27,600 $72,500 Credit $2,900 6,200 52,400 11,000 $72,500 During December, the company completed the following transactions. Dec. 7 Received $3,600 cash from customers in payment of account (no discount allowed). 12 Purchased merchandise on account from Vance Co. $12,900, terms 1/10, n/30. 17 Sold merchandise on account $16,300, terms 2/10, 1/30. The cost of the merchandise sold was $9,200. 19 Paid salaries $2,100. 22 Paid Vance Co. in full, less discount. 26 Received collections in full, less discounts, from customers billed on December 17. 31 Received $2,800 cash from customers in payment of account (no discount allowed). Adjustment data: 1. Depreciation $200 per month. 2. Insurance expired $400.

Answer 1

Answer

--Requirement asked: Only Balance SHeet

Balance Sheet
at 31 Dec
ASSETS
Current Assets:
Cash	$27,123
Account receivanles	$1,380
Inventory	$19,471
Prepaid Insurance	$1,200
Total Current Assets		$49,174
Plant, Property & equipment:
Equipment	$27,600
Less: Accumulated Depreciation - Equipment	$3,100	$24,500
Total Assets		$73,674
LIABILITIES & STOCKHOLDER's EQUITY
Liabilities (Current Liabilities):
Accounts Payable		$6,200
Stockholder's Equity:
Common Stock	$52,400
Retained Earnings (11000 + 4074 Net Income)	$15,074
Total Stockholder's equity		$67,474
Total Liabilities & Equity		$73,674