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Montalvo Bionics showed the following alphabetized unadjusted trial balance at April 3 0 , 2 0 2 3 : table [ [ Account ,
Montalvo Bionics showed the following alphabetized unadjusted trial balance at April :
tableAccountBalanceAccounts payable,Accounts receivable,Accumulated depreciation, furniture,Accumulated depreciation, machinery,Allowance for doubtful accounts,CashExpensesFurnitureJosh Montalvo, capital,Josh Montalvo, withdrawals,MachineryNote payable,PatentPrepaid rent,RevenuesUnearned revenue,
Other information:
a All accounts have normal balances.
b The furniture was depreciated using the straightline method and had a useful life of five years and residual value of zero.
c The machinery was depreciated using the doubledecliningbalance method and had a useful life of years and residual value of $
d The patent was purchased on November and is expected to be used for years, after which it will have no value.
e The balance in Prepaid Rent represents rent from June to May
f $ of the note payable will be paid by April
Required:
Prepare a classified balance sheet at April Do not round intermediate calculations. Be sure to list the assets and liabilities in order of their liquidity.
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