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The following items were taken from the financial statements of M. Wright Company. (All dollars are in thousands.) Long-term debt Prepaid insurance Equipment Long-term investment
The following items were taken from the financial statements of M. Wright Company. (All dollars are in thousands.) Long-term debt Prepaid insurance Equipment Long-term investment Short term investment Notes payable (in 2013) 1,000 Accumulated depreciation 5,500 500 Accounts payable 1,500 11,500 Notes payable (after 2013) 1000 500 Retained earnings 11,500 4,000 Accounts receivable 2,000 500 Cash 2,500 Prepare a classified balance sheet in good form as of December 31, 2012. QI) find the total current assets: a. 4,000. b. 4,500. c. 9,000. d. 11,500. Q2) find the net equipment: a. 11,500 b. 6,000 c. 5,500 d. 13,000 Q3) Long term Assets: a. 4,000 b. 500 c. 1,000 d. 2,500 Q4) Total Assets: a. 15,500 b. 16,000 c. 16,500 d. 15,000 Q5) Total current liability: a. 1,500 b. 2,000 c. 2,500 d. 3,000 Q6) Total long term liability a. 1,000 b. 1,500
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