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Hi I just need a correct balance sheet Prepare a December 31, 2020, classified balance sheet. (List Current Assets in order of liquidity. List Property,

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Prepare a December 31, 2020, classified balance sheet. (List Current Assets in order of liquidity. List Property, plant and Equipment in the order of Land, Buildings and Equipment.) Sheridan Company Balance Sheet December 31, 2020 Assets $ $ Liabilities and Stockholders' Equity . Comprehensive Problem 9 (Part Level Submission) Sheridan Company's trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the items described following the trial balance. Debit Credit Cash Accounts Receivable Notes Receivable Interest Receivable $26,500 36,000 9,800 -0- Inventory Prepaid Insurance Land 36,200 3,660 20,100 141,000 55,000 9,100 $500 47,000 22,000 27,200 -0- Buildings Equipment Patents Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Notes Payable (due in 2020) Interest Payable Notes Payable (due after 2020) Common Stock Retained Earnings Dividends Sales Revenue Interest Revenue 6,000 13,000 -0- 36,000 54,000 47,360 12,500 900,000 -0- Rent Revenue -0- Gain on Disposal of Plant Assets -0- -0- 635,000 Bad Debts Expense Cost of Goods Sold Depreciation Expense Insurance Expense Interest Expense -0- -0- -0- -0- 61,200 Interest Expense Other Operating Expenses Amortization Expense Salaries and Wages Expense -0- 107,000 $1,153,060 Total $1,153,060 Unrecorded transactions: 1. On May 1, 2020, Sheridan purchased equipment for $16,800 plus sales taxes of $1,600 (all paid in cash). 2. On Ju 1, 2020, Sheridan sold for $3,600 equipment which origi cost $5,000. Accumulated depreciation on this equipment at January 1, 2020, was $2,000; 2020 depreciation prior to the sale of the equipment was $400. 3. On December 31, 2020, Sheridan sold on account $5,400 of inventory that cost $3,300. 4. Sheridan estimates that uncollectible accounts receivable at year-end is $4,000. 5. The note receivable is a one-year, 8% note dated April 1, 2020. No interest has been recorded. 6. The balance in prepaid insurance represents payment of a $3,660 6-month premium on September 1, 2020. 7. The buildings are being depreciated using the straight-line method over 30 years. The salvage value is $36,000 8. The equipment owned prior to this year is being depreciated using the straight-line method over 5 years. The salvage value is 10% of cost. 9. The equipment purchased on May 1, 2020, is being depreciated using the straight-line method over 5 years, with a salvage value of $2,500. 10. The patent was acquired on January 1, 2020, and has a useful life of 10 years from that date. 11. Unpaid salaries and wages at December 31, 2020, total $2,100. 12. The unearned rent revenue of $6,000 was received on December 1, 2020, for 3 months' rent. 13. Both the short-term and long erm notes payable are dated January 1, 2020, and carry a 9% interest rate. All interest is payable in the next 12 months. Account Titles Debit Credit Transaction / Event $ $ 1. Equipment 18,400 Cash 18,400 2. Depreciation Expense 400 400 Accumulated Depreciation: Equipment To record depreciation expense Cash 3,600 2,400 Accumulated Depreciation: Equipment Equipment 5,000 Gain on Disposal of Plant Assets 1,000 To record sale of equipment 3. Accounts Receivable 5,400 Sales Revenue 5,400 To record sales Cost of Goods Sold 3,300 Inventory 3,300 To record cost of goods sold 4. Bad Debt Expense 3,500 Allowance for Doubtful Accounts 3,500 5. Interest Receivable 588 Interest Revenue 588 6. Insurance Expense 2,440 Prepaid Insurance 2,440 7. Depreciation Expense 3,500 Accumulated Depreciation: Buildings 3,500 8. Depreciation Expense 9,000 9,000 Accumulated Depreciation: Equipment 9. Depreciation Expense 2,120 2,120 Accumulated Depreciation: Equipment 10. Amortization Expense 910 Patents 910 11. Salaries and Wages Expense 2,100 Salaries and Wages Payable 2,100 12. Unearned Rent Revenue 2,000 Rent Revenue 2,000 13. Interest Expense 4,410 Interest Payable 4,410 Sheridan Company Income Statement For the year ended December 31, 2020 Sales Revenue $905,400 Cost of Goods Sold 638,300 Gross Profit 267,100 Operating Expenses Bad Debt Expense 3,500 Depreciation Expense 15,020 Amortization Expense 910 Insurance Expense 2,440 Salaries and Wages Expense 109,100 Interest Expense 4,410 Other Operating Expenses 61,200 Total Operating Expenses 196,580 Income from Operations 70,520 Other Income / Expenses Rent Revenue 2,000 Interest Revenue 588 Gain on Disposal of Plant Assets 1,000 3,588 Net Income $ 74,108

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