(New Problem - not a continuation of the prior problem) Classified Balance Sheet - four (4) questions Instructions: Please prepare a Classified Balance Sheet on your scratch paper based on the following Partial Adjusted Trial Balance. Use this Classified Balance Sheet to answer this question and the next three (3) questions. You will need to know the 1.) Total Current Assets, 2.) Total Long-term Assets, 3.) Total Current Liabilities, and 4.) Total Stockholders' Equity to answer these four (4) questions. Question: Based on the Partial Trial Balance and Additional Info shown below, what is the amount of the Total Current Assets shown on the Classified Balance Sheet you prepared on your scratch paper? Credit $ 50,000 25.107 30,587 Adjusted Trial Balance December 31, 20xx Accounts Debit Cash $25.107 Accounts Receivable 100,587 Inventory 40,000 Prepaid Rent 14,144 Equipment 25,000 Building 125,000 Accumulated Depreciation Accounts Payable Deferred Revenue Current Portion Long-term Debt Long-term Debt Bonds Payable Common Stock Treasury Stock 0 Retained Earnings Dividends 10.000 Revenue Cost of Goods Sold 75.107 Salaries Expense 9,000 Rent Expense 15,000 Utilities Expense 10,000 Depreciation Expense 5.000 Interest Expense 1,000 Income Tax Expense 6,000 5,000 50,144 50,000 25.000 25,000 200.107 Additional Information: Net Income After-taxes for the Accounting Period equaled $79,000 Beginning Balance of Common Stock on 1/1/20xx $25,000 Beginning Balance of Retained Earnings on 1/1/20xx $25,000 No new stock was issued during the accounting period. Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer. For example, if you calculated the answer to be $24,123 you would only input: 24123 Classified Balance Sheet Question: Based on the Classified Balance Sheet you prepared on your scratch paper, what is amount of the Total Stockholders' Equity shown on the Classified Balance Sheet you prepared on your scratch paper? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer. For example, if you calculated the answer to be $24,123 you would only input: 24123 Credit Adjusted Trial Balance December 31, 20xx Accounts Debit Cash $25.107 Accounts Receivable 100,587 Inventory 40,000 Prepaid Rent 14,144 Equipment 25,000 Building 125,000 Accumulated Depreciation Accounts Payable Deferred Revenue Current Portion Long-term Debt Long-term Debt Bonds Payable Common Stock Treasury Stock Retained Earnings Dividends 10,000 Revenue Cost of Goods Sold 75,107 Salaries Expense 9,000 Rent Expense 15,000 Utilities Expense 10,000 5,000 Depreciation Expense Interest Expense 1,000 Income Tax Expense 6,000 $ 50,000 25,107 30,587 5,000 50,144 50,000 25,000 0 25,000 200,107
