Question
Preparation of Balance Sheet Conlon Corporation's December 31 post-closing trial balance contains the following normal account balances: Interest payable $ 24,000 Allowance for doubtful accounts
Preparation of Balance Sheet Conlon Corporation's December 31 post-closing trial balance contains the following normal account balances:
Interest payable $ 24,000
Allowance for doubtful accounts 1,000
Accumulated depreciation - Equipment 130,000
Inventory 137,000
Organization costs (net of amortization) 19,000
Notes payable (short term) 80,000
Cash 2,000
Building 280,000
Accounts Receivable 21,000
Patent (net of amortization) 50,000
Equipment 266,000
Common Stock 400,000
Retained earnings 353,000
Accumulated depreciation - Building 70,000
Accounts payable 13,000
Leasehold improvements 140,000
Land 1,128,000
Long-term notes payable 950,000
Accumulated depreciation - Leasehold improvements 22,000
Required
How do I prepare a classified balance sheet for Conlon Corporation for December 31.
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