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I did what I knew how to do. I know the sums are a little off because I didn't put the items where they needed
I did what I knew how to do. I know the sums are a little off because I didn't put the items where they needed to be. I just need help to find where they need to be and I can complete the sums. Thanks
These items are taken from the financial statements of Wildhorse Co. at December 31, 2017. Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2017) Accumulated depreciation-buildings Accounts payable Notes payable Accumulated depreciation-equipment Interest payable Service revenue $118,496 14,112 3,584 13,261 92,288 68,544 874 5,936 2,912 67,200 44,801 51,072 10,640 104,832 20,966 4,032 16,464 Prepare a classified balance sheet. Assume that $15,232 of the note payable will be paid in 2018. (List current assets in order of liquidity and property plant and equipment in order of land, buildings and equipment.) Wildhorse Co. Balance Sheet For the Year Ended December 31, 2017 Assets | Current Assets Cash 13,261 Accounts Receivable 14,112 Prepaid Insurance 3,584 1 T Total Current Assets 30,957 Property, plant and Equipment Land 68,544 92,288 | Equipment Accumulated Depreciation Equipment Equipment x = 20,966 71,322 Buildings 118,496 Accumulated Depreciation-Buildings 51,072 67424 118496 Total Property, plant and Equipment | 149453 Liabilities and Stockholders' Equity T Current Liabilities Notes Payable 104,832 Accounts Payable 10,460 Interest Payable 4,032 T Total Current Liabilities 119,324 i Long-Term Liabilities A Buildings 118,496 237,820 T Stockholders' EquityStep by Step Solution
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