E4-16

Notes payable (due in 2 years) Patents Salaries and wages payable Inventory Stock investments (to be sold in 7 months) Equipment Prepaid expenses E47 15 The folloxving items were taken from the financial statements of J. Pined . Pineda Comp any. (All amounts are in thousands.) Long-term debt Prepaid insurance Equipment Stock investments (long-term) 264 Owner's capital Debt investments (short-term) 3,690 Accounts receivable Notes payable (due in 2018) Cash s 1,000 Accumulated depreciation-equipment 5,655 1,444 400 12,955 1,696 1,256 880 Accounts payable 11,500 Notes payable (due after 2018) 500 Inventory 2,668 Instructions Prepare a classified balance sheet in good form as of December 31, 2017. E4-17 These financial statement item Salaries and wages payable Salaries and wages expense Utilities expense Equipment Accounts payable s are for Basten Company at year-end, July 31, 2017. 1,800 14,200 9,780 34,400 Accumulated depreciation-equipment 6,000 3,000 2,080 Notes payable (long-term) 48,700 Cash 22,600 Accounts receivable 4,100 Owner's drawings