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The following is a December 31, 2021, post-closing trial balance for the Jackson Corporation. Credits Debits $ 44,000 38,000 79,000 20,000 14,000 165,000 $ 15,000
The following is a December 31, 2021, post-closing trial balance for the Jackson Corporation. Credits Debits $ 44,000 38,000 79,000 20,000 14,000 165,000 $ 15,000 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 10 years) Common stock Retained earnings Totals 83,000 10,000 6,000 36,000 180,000 140,000 56,000 $443,000 3,000 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 Sheet At December 31, 2021 Assets
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