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Post closing trial balance 12/31/16 Account Title Debits Credits Cash 40,000 Accounts receivable 34,000 Inventories 75,000 Prepaid rent 16,000 Marketable securities (short term) 10,000 Machinery
| Post closing trial balance 12/31/16 Account Title | Debits | Credits | ||
| Cash | 40,000 | |||
| Accounts receivable | 34,000 | |||
| Inventories | 75,000 | |||
| Prepaid rent | 16,000 | |||
| Marketable securities (short term) | 10,000 | |||
| Machinery | 145,000 | |||
| Accumulated depreciationmachinery | 11,000 | |||
| Patent (net of amortization) | 83,000 | |||
| Accounts payable | 8,000 | |||
| Wages payable | 4,000 | |||
| Taxes payable | 32,000 | |||
| Bonds payable (due in 10 years) | 200,000 | |||
| Common stock | 100,000 | |||
| Retained earnings | 48,000 | |||
| Totals | 403,000 | 403,00 | ||
Prepare a classified balance sheet for Jackson Corporation at December 31, 2016
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Effective Use Of Teams For IT Audits
Authors: Martin Krist
1st Edition
0849398282, 978-0849398285
