EXHIBIT 4-13 Classified Balance Sheet of Hunter Environmental Consulting in Account Format LEARNING TIPS HUNTER Keep these pages handy! Book- mark them They ilustrate the formats to be followed when pre paring a dassified balance sheet Balance Sheet May 31, 2017 Current assets Current liabilities: 0d you nobce that the Balanc Sheet is caled Balance Sheet 31,000 Accounts payable 15,500 Salary pay able ,000 Unearned service 12.000 Accounts receivable Office supplies Prepaid insurance Sheet? The 2.000 Total current iabilities Total current assets Property, plant, and equipment s 45,000 Owner's Equity Lisa Hunter, capital 127,050 Less: Accumulated 750 44.250 Total property, plant, and 94.250 LEARNING TIPS Total liabilities and Total assets Are you a isual learner? Thi might help you remember the The classified balance sheet of CAM Company, is shown in Exhibit 414. It shows how a company with many different accounts could present its data on a classified balance sheet Report Format Formats of Balance Sheets The balance sheet of CAM Company shown in Exhibit 4-14 lists the assets at the top with the liabilities and owner's equity below This is the report format. HEC's balance sheet in Exhibit 4-13 lists the assets at the left with the liabilities and the owner's equity at the right. That is the acount (or equastion format. Either format is Account Fermat is acceptable 8. Some of the accounts from the December 31, 2017, trial balance of Mark Wearing Engineers appear here. All accounts have their normal balances. Mark Wearing. Capital Cash $14,160 Salaries 5 1,400 ..- 11200 11200 Mortgage Payable (cument Accounts Pay and long term 20,000 1,000 2.400 200 200 Mortgage Payable (current) 7600 Uneamed Service 7000 Supplies Identify the assets (including contra assets) and liabilities, and identify whether each asset and liability is current or long term. 9. Refer to the data in Try It "8, Create the classified balance sheet in report format for Mark Wearing Engineers at December 31, 2017 Solutions appear at the end of this chapter and on MyAccountinglab