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Problem 5: Classified Balance Sheet (25 points) These items are taken from the financial statements of Donovan Co. at December 31, 2012. Building Accounts receivable
Problem 5: Classified Balance Sheet (25 points) These items are taken from the financial statements of Donovan Co. at December 31, 2012. Building Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense $95,800 7,600 4,680 18,840 79,400 61,200 780 7,300 2,600 57,000 40,000 45,600 7,500 88,600 18,720 3,600 17,180 Common stock Retained earnings January 1, 2012) Accumulated depreciation-building Accounts payable Mortgage payable Accumulated depreciation-equipment Interest payable Bowling revenues Instructions: Prepare a classified balance sheet. Assume that $13,600 of the mortgage payable will be paid in 2013. (HINT: not all of the above accounts will appear directly on the balance sheet), You may need the back of the previous page to have enough room for your
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