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how can i get capital? am i missing something? Formula Wk 5 - Apply: Connect Homework [due Mon] Saved Help Save & Exit Submit Check

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how can i get capital? am i missing something? Formula

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Wk 5 - Apply: Connect Homework [due Mon] Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 3 Required information Part 2 of 2 Use the following information for Quick Studies below. [The following information applies to the questions displayed below.] 12 points The following is the adjusted trial balance of Sierra Company Account Title Debit Cash 19,000 Credit Prepaid insurance Notes receivable (due in 5 years) 1,200 Buildings 5,400 $5,000 Accumulated depreciation-Buildings $19,000 Accounts payable 6,000 Notes payable (due in 3 years) ' 500 H. Sierra, Capital H. Sierra, Withdrawals Consulting revenue 4,500 21,000 Wages expense 44,500 4,200 Depreciation expense-Buildings Insurance expense 5,500 2,200 Totals $97,000 $97,000 QS 4-11 Preparing a classified balance sheet LO C3 Use the information adjusted trial balance to prepare Sierra Company's classified balance sheet as of December 31. & Answer is complete but not entirely correct. SIERRA COMPANY Balance Sheet December 31 Assets Current assets Prepaid insurance 1,200 Cash 19,000 Total current assets 20,200 Long-term investments Notes receivable 5,400 Plant assets Buildings 55,000 Accumulated depreciation-Buildings 19,000 36,000 Total assets 61,600 Liabilities Current liabilities Accounts payable 6,000 Long-term liabilities Notes payable O 6,500 Total liabilities 12,500 Equity H. Sierra, Capital 14,200 x Total liabilities and equity 26,700

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