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The following is a December 31, 2021, post-closing trial balance for the Jackson Corporation. Credits Debits $ 40, eee 34,000 75, eee 16,000 10,eee 145,000
The following is a December 31, 2021, post-closing trial balance for the Jackson Corporation. Credits Debits $ 40, eee 34,000 75, eee 16,000 10,eee 145,000 Account Title Cash Accounts receivable Inventory Prepaid rent (for the next 8 months) Investment in equity securities (short term) Machinery Accumulated depreciation Patent (net) Accounts payable Salaries payable Income taxes payable Bonds payable (due in 18 years) Common stock Retained earnings Totals $ 11,000 83,000 8, eee 4,000 32,800 200, 800 100, 48,290 5403,000 $403,800 Required: Prepare a classified balance sheet for Jackson Corporation at December 31, 2021, by properly classifying each of the accounts. (Amounts to be deducted should be indicated by a minus sign.) JACKSON CORPORATION Balance Shoot At December 31, 2021 Assets Current assets: Total current assets Property, plant, and equipment S | Net property, plant, and equipment Intangible assets Total assets Liabilities and Shareholders' Equity Current liabilities Total current liabilities Long-term labies: Total liabilities Shareholders Total shareholders' equity Total abilities and shareholders' equity
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