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The accounting records for ALB, Inc., reflected the following amounts at the end of August 2018. (Click the icon to view the accounts.) ) Prepare
The accounting records for ALB, Inc., reflected the following amounts at the end of August 2018. (Click the icon to view the accounts.) ) Prepare the classified balance sheet for ALB, Inc., at August 31, 2018. Use the report format. Begin by preparing the heading and completing the assets section of the balance sheet. Next, complete the liabilities and stockholders' equity sections of the statement ALB, Inc. , Balance Sheet Data table August 31, 2018 - X Assets Cash $ Current Assets Cash Accounts receivable Inventory Prepaid rent Total operating expenses...... Accounts payable Total stockholders' equity Estimated refund liability Long-term notes payable Inventory Salaries payable.......... 3,000 Cost of goods sold. $ 20,000 4,200 Equipment, net 25,100 5,300 Accrued liabilities 1,900 11,950 Sales revenue. 38,000 950 Accounts receivable 4,100 17,000 Prepaid rent... 1,900 3,300 Estimated inventory returns ... 600 900 Interest expense Interest expense .......... 200 Total current assets Equipment, net Total current assets Total assets Liabilities Print Done Current Liabilities: Accounts payable Salaries payable Accrued liabilities Total current liabilities Next
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