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Prepare a classified balance sheet for Oxmoor at December 31, 2019. Preparing a Balance Sheet Oxmoor Corporation prepared the following adjusted trial balance. Oxmoor Corporation
Prepare a classified balance sheet for Oxmoor at December 31, 2019.
Preparing a Balance Sheet Oxmoor Corporation prepared the following adjusted trial balance. Oxmoor Corporation Adjusted Trial Balance December 31, 2019 Debit Credit Account Cash $13,300 Accounts Receivable 6,700 Prepaid Rent 54,000 Inventory 481,400 Long-Term Investment 110,900 Equipment 88,000 Accumulated Depreciation $23,700 Accounts Payable 111,700 Interest Payable 4,400 Note Payable (short-term) 50,000 Bonds Payable 180,000 Common Stock 300,000 Retained Earnings, 1/1/2019 45,635 Dividends 50,000 Sales Revenue 583,900 Cost of Goods Sold 277,000 Wages Expense 98,250 Rent Expense 50,000 Depreciation Expense 29,000 Interest Expense 2,700 38,085 Income Taxes Expense Totals $1,299,335 $1,299,335 Required: Prepare a classified balance sheet for Oxmoor at December 31, 2019. Oxmoor Corporation Balance Sheet December 31, 2019 Assets Current assets: Cash Accounts receivable Inventory Total current assets Long-term investments: Property, plant, and equipment: Total assets Liabilities Current liabilities: Total current liabilities Long-term liabilities Total liabilities Stockholders' Eguity Total stockholders' equity Total liabilities and stockholders' equityStep by Step Solution
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