Prepare a December 31 balance sheet in proper form for Surety Insurance using the following accounts and amounts:
Definitions:
Trial Balance
A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal, used to ensure the accounting entries are in balance.
T-Accounts
A visual representation used in accounting to show the debits and credits in separate columns for each account in the general ledger.
Dividends
Distributions from a corporation to its shareholders, representing a share of the company's earnings.
Common Stock
An equity security that represents ownership in a corporation, entitling shareholders to a share of the company's profits through dividends.
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