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Prepare a classified balance sheet for Cullumber Company as of April 30, 2022. (List Current Assets in order of liquidity.) CULLUMBER COMPANY Balance Sheet April
Prepare a classified balance sheet for Cullumber Company as of April 30, 2022. (List Current Assets in order of liquidity.) CULLUMBER COMPANY Balance Sheet April 30, 2022 Assets Current Assets Cash 1,31 Stock Investments 1,80 Accounts Receivable 86 Inventory 97 Prepaid Insurance 0 Total Current Assets Total Property. Plant and Equipment Land Total Assets Liabilities and Stockholders' Equity Current Liabilities e Textbook and Media Assistance Used eTextbook Video List of Accounts Save for Later Attempts: 0 of 5 used Submit Answer Question 1 of 2 8/12 III View Policies Show Attempt History Current Attempt in Progress You are provided with the following information for Cullumber Company, effective as of its April 30,2022 year-end. Accounts payable $ 876 Accounts receivable 860 Accumulated depreciation equipment 740 Cash 1,370 Common stock 16,500 Cost of goods sold 1,020 Depreciation expense 355 Dividends 335 Equipment 2.580 Goodwill 1.900 Income tax expense 190 Income taxes payable 130 Insurance expense 380 Interest expense 560 Inventory 970 Investment in land 12,500 Land 3,300 Mortgage payable (long-term) 4,200 Notes payable (short-term) 54 Prepaid insurance 60 Retained earnings (beginning) 1.400 Salaries and wages expense 650 Salaries and wages payable 230 Sales revenue 4.700 Stock investments (short-term) 1,800 (21)
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