Question
Accounts Payable 46,340 Accounts receivable 37,100 Accumulated depreciation equipment 23,850 Administrative Expenses 57,080 Cash 20,670 Common Stock 10,000 Cost of Goods Sold 166,470 Dividends 48,000
Accounts Payable 46,340
Accounts receivable 37,100
Accumulated depreciation equipment 23,850
Administrative Expenses 57,080
Cash 20,670
Common Stock 10,000
Cost of Goods Sold 166,470
Dividends 48,000
Equipment 26,500
Income tax Expense 15,675
Interest payable 600
Inventory 50,125
Notes payable, short term 5,000
Notes payable, Long-term 30,000
Paid-in Capital Common 15,000
Retained Earnings (Dec 31) 8,255
Salary Payable 3,700
Sales 329,300
Supplies 2,350
Treasury Stock ($30 cost per share) (6,000)
A teammate has prepared the income statement and the statement of stockholders equity. There are 10,000 shares authorized, $10 par value.
Required:
Prepare the Classified Balance Sheet for the year ended December 31, 2019.
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