Answered step by step
Verified Expert Solution
Question
1 Approved Answer
AutoSave ONE Accounting Homework 1 - Saved Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Calibrl (body) X X LE
AutoSave ONE Accounting Homework 1 - Saved Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Calibrl (body) X X LE v AP a Wras Text > Insert v General E AY 29-0 DX Delete Pagic B 1 - A = = Ideas Merge & Center S% Conditional Format Cell Formatting as Table Styles Sort & Filter Farmatu Find & Select Sensitivity Y C36 . x T D E F H 1 L M N 0 P R 5 T T U 1 Use ths post-closing trial balance to create a classified balance sheet in good form. 2 If you do it right, total assets will equal the sum of liabilities and totalstockholders' equity. 3 4 Account Name DR CA 5 Cash 10000 6 Accounts Receivable 150CO 7 Short Term Investments 200CO 8 Merchandise Inventory 2 SOCO 9 Prepaid insurance 120100 10 Investment in ABC Compary Stock 1000 11 Inwestment in XYZ Bonds 1505CO 12 Debt Service Fund 75000 13 Land for Future Expansion 100000 14 Land 150000 15 Buildings 800000 16 Machinery & Equipment GOOOCO 17 Accumulated Depreciation 140000 19 Franchise 25000 19 Patents 1000CO 20 Comyrights 300100 21 Deferred Tax Asset 112000 22 Deferred Pension Asset 46000 23 Accounts Payable 15000 24 Short-Term Notes Payable 150000 25 Taxes Payable 25000 26 Salaries Payable 75000 27 Interest Payable 15000 29 Bonds Payable 200000 29 Mortgage Payable GOODOO 3D Current Portion of Lang-term Debt 300000 31 Common Stark 2001000 32 Preferred Stock 500000 33 Retained Earnings 20000 34 Accumulated Other Comprehensive Income 60000 35 Totals 237000 270000 36 37 38 Classily Assels Which Slalement Balance Sheet Income Sinnl Slm Cash Flows + 110%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started