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How to prepare a classified balance sheet for the merchandiser? Exercise 4-16 Preparing a classified balance sheet for a merchandiser LO P4 Adams Co. reports

How to prepare a classified balance sheet for the merchandiser?

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Exercise 4-16 Preparing a classified balance sheet for a merchandiser LO P4 Adams Co. reports the following balance sheet accounts as of December 31. Salaries payable $ Buildings Prepaid rent Merchandise inventory Accounts payable Prepaid insurance Accounts receivable Common stock Reauirecl: ?,486 ??,499 8,499 15,899 24,999 5,899 18,999 24,999 Retained earnings Notes payable (due in 9 years) Office supplies Land Accumulated depreciationBuilding Mortgages payable (due in 5 years) Cash $ 64,999 58,999 4,899 59,999 ?,899 49,999 44,999

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