Question
The following items were taken from the financial statements of P. Sheridan Company (all amounts are in thousands) Long-term debit $1,100 Accumulated-depreciation equipment $15,300 Prepaid
The following items were taken from the financial statements of P. Sheridan Company (all amounts are in thousands)
Long-term debit $1,100 Accumulated-depreciation equipment $15,300
Prepaid Insurance 990 Accounts payable 1,100
Equipment 11,600 Notes payable (due after 2021) 300
Stock Investment (long-term) 200 Owner's capital 13,890
Debt investment (short term) 4,000 Accounts receivable 1,500
Notes payable ( due in 2021) 500 Inventory 1,800
Cash 2,100 How can I prepare a classified balance sheet in good form as of December 31, 2020?
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Introductory Financial Accounting for Business
Authors: Thomas Edmonds, Christopher Edmonds
1st edition
1260299449, 978-1260299441
