Question
how would I prepare a classfied balance sheet with this ? Accounts payable $ 40,000 Gain on sale of equipment X $ 2,000 Accounts receivable
how would I prepare a classfied balance sheet with this ?
Accounts payable | $ 40,000 |
| Gain on sale of equipment X | $ 2,000 |
Accounts receivable | 50,000 |
| Income tax expense X | 5,000 |
Accumulated depreciation - building | 10,000 |
| Inventory | 100,000 |
Additional paid-in capital | 800,000 |
| Interest expense X | 4,000 |
Allowance for uncollectible accounts | 5,000 |
| Land | 200,000 |
Bonds payable, due in 2029 | 800,000 |
| Note payable, due 10/1/20 | 100,000 |
Building | 641,000 |
| Preferred stock | 300,000 |
Cash | 1,500,000 |
| Prepaid insurance | 5,000 |
Common stock | 500,000 |
| Rent expense X | 10,000 |
Cost of goods sold X | 50,000 |
| Retained earnings, 1/1/19 X | 75,000 |
Current maturities of long-term debt | 40,000 |
| Sales revenue X | 120,000 |
Deferred revenue | 50,000 |
| Short-term investments X | 112,000 |
Depreciation expense X | 5,000 |
| Supplies expense X | 15,000 |
Discount on bonds payable | 30,000 |
| Treasury stock | 100,000 |
Dividends X | 15,000 |
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