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The following is the balance sheet of Korver Supply Company at December 31, 2023 (prlor year). Transactions during 2024 (current year) were as follows: Additional
The following is the balance sheet of Korver Supply Company at December 31, 2023 (prlor year). Transactions during 2024 (current year) were as follows: Additional Information: The notes payable are dated June 30,2023 , and are due on June 30,2025 . Interest at 6% is payable annually on June 30 . Depreclation on the furniture and fixtures for 2024 is $20,000. The furniture and fixtures originally cost $300,000. Required: Prepare a classlfied balance sheet at December 31, 2024, by updating ending balances from 2023 for transactions during 2024 and the additional Information. The cost of furniture and fixtures and their accumulated depreclation are shown separately. Note: Amounts to be deducted should be Indlcated by a minus sign
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