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Can someone please walk me through the steps of creating this balance sheet Take me to the text Jung Corporation has the following account balances.
Can someone please walk me through the steps of creating this balance sheet
Take me to the text Jung Corporation has the following account balances. Using this information, prepare a classified balance sheet as at April 30, 2018 under US GAAP. Account Title Balance Accounts Payable $44,600 Accounts Receivable $50,000 Accumulated Depreciation $6,100 Cash $19,500 Common Stock $48,700 Merchandise Inventory $65,900 Notes Payable $120,000 Preferred Stock $53,800 Prepaid Rent $20,000 Property, Plant and Equipment $249,400 Retained Earnings $128,900 Unearned Revenue $2,700 Notes: Both preferred stock and common stock have no par value. Unlimited common shares are authorized and 3,000 have been issued and are currently outstanding. For preferred stock, 11,000 shares are authorized and 4,400 have been issued and are currently outstanding. Each share pays a cumulative dividend of $5 annually. The notes payable is payable over 6 years and $20,000 will be paid by April 30, 2019. Do not enter dollar signs or commas in the input boxes. Do not use the negative sign. Jung Corporation Balance Sheet As at April 30, 2018Step by Step Solution
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