1. Prepare Telegraphic Link’s balance sheet as of November 30, 2012.

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E4-14 Preparing financial statements from the completed worksheet [15-20 min]
Use your answer from E4-13.

Requirement

1. Prepare Telegraphic Link’s balance sheet as of November 30, 2012.

Data from E4-13

TELEGRAPHIC LINK Trial Balance November 30, 2012
		Balance
	Account	Debit	Credit
	Cash	$ 4,000
	Accounts receivable	3,200
	Prepaid rent	1,900
	Supplies	3,000
	Equipment	34,800
	Accumulated depreciation		$ 1,600
	Accounts payable		5,400
	Salary payable
	Thomas, capital		35,700
	Thomas, drawing	2,100
	Service revenue		8,600
	Depreciation expense
	Salary expense	1,700
	Rent expense
	Utilities expense	600
	Supplies expense
	Total	$51,300	$51,300