Assets:

$\backslash$table$[[$Cash$,$Short$-$Term Investments,Property and Equipment$],[$Debit$,$Credit,Debit,Credit,Credit$],[,,10,000,,6,000]]$

Liabilities:

$\backslash$table$[[\backslash$table$[[$Notes Payable $($current$)],[$Debit$]]],[$Credit$]]$

Stockholders' Equity:

Required:

Using the data from the T$-$accounts given, complete the accounting equation on January $1$ of the current year.

Prepare journal entries for transactions $($a$)$ through $($e$)$ for the current year.

a$.$ Borrowed $$11,500$ from a local bank, signing a note due in three years.

b$.$ Sold $$9,000$ of the investments for $$9,000$ cash.

c$.$ Sold one$-$half of the property and equipment for $$3,000$ in cash.

d$.$ Declared $$3,800$ in cash dividends to stockholders.

e$.$ Paid dividends to stockholders.

Enter the effects of the transactions in Requirement $2$ in the T$-$accounts.

Prepare a trial balance at December $31.$

Prepare a classified balance sheet at December $31$ of the current year.

Calculate the current ratio at December $31$ of the current year.

Complete this question by entering your answers in the tabs below.

Using the data from the T$-$accounts given, complete the accounting equation on January $1$ of the current year.

Assets

$=$ Liabilities

Stockholders' Equity