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Classified Balance Sheet errison Company operates a wholesale hardware business. The following balance sheet accounts and balances are available for Jerrison at December Accounts
Classified Balance Sheet errison Company operates a wholesale hardware business. The following balance sheet accounts and balances are available for Jerrison at December Accounts payable $ 65,100 Equipment, data processing $309,000 Accounts receivable 95,500 Income taxes payable 170,000 Accumulated depreciation Interest payable 12,600 (on building) 216,800 Inventory 187,900 Accumulated depreciation Investments (long-term) 32,700 (on data processing equipment) 172,400 Investments (short-term) 11,400 Accumulated depreciation 31,200 Land 41,000 (on trucks) Notes payable (due in 6 months) 27,600 Bonds payable (due in 4 years) 200,000 Prepaid insurance (for 4 months) 5,700 Building (warehouse) 419,900 Retained earnings, Dec. 31 ? Cash 21,000 Salaries payable 14,400 Common stock 150,000 Trucks 106,100 Required: 1. Prepare a classified balance sheet for Jerrison at December 31. Jerrison Company Balance Sheet December 31
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