Question
he following items were taken from the financial statements of J. Sheridan Company on December 31, 2024. (All amounts are in thousands.) Long-term debt $1,050
he following items were taken from the financial statements of J. Sheridan Company on December 31, 2024. (All amounts are in thousands.)
| Long-term debt | $1,050 | Accumulated depreciationequipment | $5,645 | |||
|---|---|---|---|---|---|---|
| Prepaid insurance | 820 | Accounts payable | 1,564 | |||
| Equipment | 11,560 | Notes payable (due after 2025) | 360 | |||
| Long-term investments | 374 | J. Sheridan, capital | 13,195 | |||
| Short-term investments | 3,760 | Accounts receivable | 1,816 | |||
| Notes payable (due in 2025) | 560 | Merchandise inventory | 1,356 | |||
| Cash | 2,688 |
Prepare a classified balance sheet in good form as at December 31, 2024. (List Current Assets in order of liquidity.)
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Accounting Information Systems
Authors: Marshall B. Romney, Paul J. Steinbart
13th edition
978-0133428537
