Question
The following is the adjusted trial balance of Sierra Company. Account TitleDebitCreditCash$39,000Prepaid insurance2,200Notes receivable (due in 5 years)7,400Buildings105,000Accumulated depreciation-Buildings$29,000Accounts payable11,000Notes payable (due in 3 years)11,500H.
The following is the adjusted trial balance of Sierra Company.
Account TitleDebitCreditCash$39,000Prepaid insurance2,200Notes receivable (due in 5 years)7,400Buildings105,000Accumulated depreciation-Buildings$29,000Accounts payable11,000Notes payable (due in 3 years)11,500H. Sierra, Capital36,000H. Sierra, Withdrawals9,500Consulting revenue94,500Wages expense5,200Depreciation expense-Buildings10,500Insurance expense3,200Totals$182,000$182,000
QS 4-11 Preparing a classified balance sheet LO C3
Use the information adjusted trial balance to prepare Sierra Company'sclassifiedbalance sheet as of December 31.
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Managerial Accounting
Authors: Ray Garrison, Eric Noreen and Peter Brewer
14th edition
978-007811100, 78111005, 978-0078111006
