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The December 3 1 , 2 0 2 4 , post - closing trial balance ( $ in thousands ) for Libby Corporation is presented
The December postclosing trial balance $ in thousands for Libby Corporation is presented below:
Debits Credits
Cash
Longterm investments
Accounts receivable
Allowance for uncollectible accounts
Prepaid insurance
Inventory
Land
Buildings
Accumulated depreciationbuildings
Equipment
Accumulated depreciationequipment
Patents unamortized balance
Accounts payable
Notes payable, due
Interest payable
Bonds payable, due
Common stock no par shares
authorized, issued, and outstanding
Retained earnings
Totals
Required:
Prepare a classified balance sheet for Libby Corporation on December
Note: Enter your answers in the order of their liquidity. Negative amounts should be entered by a minus sign. Enter your answers in thousands of dollars.
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