Question
Presented below is a list of balance sheet accounts. Accounts payable Land (in use) Accounts receivable Long-term investments Accumulated depreciationbuildings Notes payable (due in 6
Presented below is a list of balance sheet accounts.
Accounts payable Land (in use)
Accounts receivable
Long-term investments
Accumulated depreciationbuildings
Notes payable (due in 6 months)
Accumulated depreciationequipment
Notes receivable (due in 2 years)
Allowance for uncollectible accounts
Patent Bonds payable (due in 10 years)
Preferred stock Buildings
Prepaid expenses
Cash
Rent payable (current)
Common stock
Restricted cash (to be used in 10 years)
Copyright
Retained earnings
Equipment
Short-term investments
Interest receivable (due in three months)
Taxes payable
Inventories
Wages payable
Prepare a classified balance sheet ignoring monetary amounts.
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