Question
The following items were taken from the financial statements of J. Sandhill Company on December 31, 2021. (All amounts are in thousands.) Long-term debt $910
The following items were taken from the financial statements of J. Sandhill Company on December 31, 2021. (All amounts are in thousands.)
| Long-term debt | $910 | Accumulated depreciationequipment | $5,555 | |||
|---|---|---|---|---|---|---|
| Prepaid insurance | 880 | Accounts payable | 1,354 | |||
| Equipment | 11,530 | Notes payable (due after 2022) | 290 | |||
| Long-term investments | 194 | J. Sandhill, capital | 12,945 | |||
| Short-term investments | 3,790 | Accounts receivable | 1,276 | |||
| Notes payable (due in 2022) | 490 | Merchandise inventory | 1,276 | |||
| Cash | 2,598 |
Prepare a classified balance sheet in good form as at December 31, 2021. (List Current Assets in order of liquidity.)
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Accounting And Financial Management For Residential Construction
Authors: Emma Shinn
5th Edition
0867186356, 978-0867186352
