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Prepare a classified balance sheet for Tucson Co. for the year ended December 31 using the following data. (Amounts to be deducted should be indicated
Prepare a classified balance sheet for Tucson Co. for the year ended December 31 using the following data. (Amounts to be deducted should be indicated by a minus sign.) Common stock Cash Equipment Retained earnings Accounts receivable Paid-in capital in excess of par value, common stock Notes payable Preferred stock Common dividend payable Accounts payable Treasury stock Paid-in capital in excess of par value, preferred stock $ 1,000 20,800 29,000 9,000 3,800 17,000 10,800 8,000 5,800 6,000 6,000 2,000 balance sheet December 31 Assets Current assets Total current assets 0 Plant assets Total assets $ 0 Liabilities Current liabilities Total current liabilities 0 Long-term liabilities Total liabilities 0 Equity 0 Total equity .Total liabilities and equity. $ 0
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