Balance sheet presentation

Spring2017 ACCT301-01 Exam1 Extra Name: __________________________ Points: ____/15 Note: Up to 15 points will be added to Exam 1 for a total not to exceed 108 points.

Due: Final Exam Date 1. Balance sheet presentation.

Given the following account information for Leong Corporation, prepare a balance sheet in report form for the company as of December 31, 2016. All accounts have normal balances.

Page 1 Interest Payable 600 Retained Earnings ?

Dividends 50,400 Land 137,320 Accounts Receivable 102,000 Bonds Payable 78,000 Notes Payable (due in 6 months) 29,400 Common Stock 70,000 Accumulated Depreciation - Equip. 10,000 Prepaid Advertising 5,000 Service Revenue 341,400 Buildings 80,400 Supplies 1,860 Income Taxes Payable 3,000 Utilities Expense 1,320 Advertising Expense 1,560 Salaries and Wages Expense 53,040 Salaries and Wages Payable 900 Accumulated Depr. - Bld. 15,000 Cash 45,000 Depreciation Expense 8,000 Equipment 60,000 Interest Expense 2,400