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Chevron Corporation has the following balances as of December 31, 2023: Cash: $1,500,000 Accounts Receivable: $2,100,000 Prepaid Insurance: $350,000 Equipment: $8,500,000 Accumulated Depreciation: $4,500,000 Accounts

Chevron Corporation has the following balances as of December 31, 2023:

  • Cash: $1,500,000
  • Accounts Receivable: $2,100,000
  • Prepaid Insurance: $350,000
  • Equipment: $8,500,000
  • Accumulated Depreciation: $4,500,000
  • Accounts Payable: $1,500,000
  • Salaries Payable: $300,000
  • Common Stock: $2,500,000
  • Retained Earnings: $1,960,000

Prepare a classified balance sheet for Chevron Corporation as of December 31, 2023.

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