SE4

iy, ber eqityor not on the balance sheet: Biuit ae A current liability; a long-term liabil- 1. Delivery Trucks 6. Prepaid Insurance 7. Trademark 8. Investment to Be Held Six Months 9. Factory Not Used in Business 2. Accounts Payable 3. Note Payable (due in 90 days) 4. Delivery Expense 5. Owner's Capital Classified Balance Sheet 2 SE4. Using the following accounts, prepare a classified balance sheet at year end, May 31, 2014: Accounts Payable, $1,600; Accounts Receivable, $2,200; Accumulated Depre- ciation-Equipment, $1,400; Cash, $400; Owner's Investment, $2,000; Equipment, $6,000; Franchise, $400; Investments (long-term), $1,000; Merchandise Inventory, $1,200; Notes Payable (long-term), $800; Owner's Capital, S2, Wages Payable, $200. Assume that this is the company's first year of operations