Classified Balance Sheet - four (4) questions Instructions: Please prepare a Classified Balance Sheet on your scratch paper based on the following Partial Adjusted Trial Balance. Use this Classified Balance Sheet to answer this question and the next three (3) questions. You will need to know the 1.) Total Current Assets, 2.) Total Long-term Assets, 3.) Total Current Liabilities, and 4.) Total Stockholders' Equity to answer these four (4) questions. Question: Based on the Partial Trial Balance and Additional Info shown below, what is the amount of the Total Current Assets shown on the Classified Balance Sheet you prepared on your scratch paper? Adjusted Trial Balance December 31, 20xx Accounts Debit Credit $25.138 100,508 40.000 14.190 Cash Accounts Receivable Inventory Prepaid Rent Equipment Building Accumulated Depreciation Accounts Payable Deferred Revenue 25,000 125.000 $ 50.000 25.138 30.508 $ 50,000 25,138 30,508 5,000 50,190 50.000 25.000 0 25,000 Accumulated Depreciation Accounts Payable Deferred Revenue Current Portion Long-term Debt Long-term Debt Bonds Payable Common Stock Treasury Stock Retained Earnings Dividends Revenue Cost of Goods Sold Salaries Expense Rent Expense Utilities Expense Depreciation Expense Interest Expense Income Tax Expense 10,000 200.138 75.138 9,000 15.000 10,000 5,000 1,000 6.000 Additional Information: Net Income After-taxes for the Accounting Period equaled $79.000 hentar 15,000 10,000 Rent Expense Utilities Expense Depreciation Expense Interest Expense Income Tax Expense 5,000 1,000 6.000 Additional Information: Net Income After-taxes for the Accounting Period equaled $79.000 Beginning Balance of Common Stock on 1/1/20xx $25,000 Beginning Balance of Retained Eamings on 1/1/20xx $25.000 No new stock was issued during the accounting period. Fill in the blank with your calculated number. DO NOT include commas. $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer. For example, if you calculated the answer to be $24.123 you would only input: 24123 Classified Balance Sheet Question: Based on the Classified Balance Sheet you prepared on your scratch paper, what is amount of the Total Long-term Assets shown on the Classified Balance Sheet you prepared on your scratch paper? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer. For example, if you calculated the answer to be $24,123 you would only input: 24123 Classified Balance Sheet Question: Based on the Classified Balance Sheet you prepared on your scratch paper, what is amount of the Total Current Liabilities shown on the Classified Balance Sheet you prepared on your scratch paper? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer. For example, if you calculated the answer to be $24,123 you would only input: 24123 Classified Balance Sheet Question: Based on the Classified Balance Sheet you prepared on your scratch paper, what is amount of the Total Stockholders' Equity shown on the Classified Balance Sheet you prepared on your scratch paper? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer. For example, if you calculated the answer to be $24,123 you would only input: 24123
