Hello,

Looking to see if I did assignment right. Please complete the following:

P 3-1

Balance sheet preparation

Presented below is a list of balance sheet accounts.

Accounts payable Cash

Accounts receivable Common stock

Accumulated depreciation-buildings Copyright

Accumulated depreciation-equipment Equipment

Allowance for uncollectible accounts Interest receivable (due in three months)

Restricted cash (to be used in 10 years) Inventories

Bonds payable (due in 10 years) Land (in use)

Buildings Long - term investments

Notes payable (due in 6 months) Rent payable (current)

Notes receivable (due in 2 years) Retained earnings

Patent Short - term investments

Preferred stock Taxes payable

Prepaid expenses Wages payable

REQUIRED:

Create a classified balance sheet ignoring monetary amounts