The Following Are Amounts from the Accounting Records of Farley

question 98

Essay

The following are amounts from the accounting records of Farley Company before adjusting entries have been for the year ending December 31, 2010. The following adjustments have not been made as of December 31, 2010:
1. Wages accrued on 12/31/10 amounts to $1,100.
2. Three months' interest on the note payable has not been paid or recognized.
3. Depreciation for 2010 amounts to $3,000.
4. Supplies on hand at 12/31/10 amounts to $700.
Prepare Farley's balance sheet at December 31, 2010 after the adjusting process is completed. Omit the heading.

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