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Chevron Corporation has the following balances as of December 31, 2023: Cash: $50,000 Accounts Receivable: $70,000 Prepaid Insurance: $15,000 Equipment: $300,000 Accumulated Depreciation: $45,000 Accounts

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

  • Cash: $50,000
  • Accounts Receivable: $70,000
  • Prepaid Insurance: $15,000
  • Equipment: $300,000
  • Accumulated Depreciation: $45,000
  • Accounts Payable: $22,000
  • Salaries Payable: $20,000
  • Common Stock: $150,000
  • Retained Earnings: $145000

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

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