Question
These items are taken from the financial statements of Blossom Company for 2017. Retained earnings (beginning of year)$33,820Utilities expense2,160Equipment68,820Accounts payable20,230Cash13,950Salaries and wages payable5,910Common stock12,000Dividends12,000Service revenue71,250Prepaid
These items are taken from the financial statements of Blossom Company for 2017.
Retained earnings (beginning of year)$33,820Utilities expense2,160Equipment68,820Accounts payable20,230Cash13,950Salaries and wages payable5,910Common stock12,000Dividends12,000Service revenue71,250Prepaid insurance6,410Maintenance and repairs expense1,640Depreciation expense3,330Accounts receivable13,630Insurance expense2,470Salaries and wages expense40,250Accumulated depreciationequipment21,450
Prepare a classified balance sheet as of December 31, 2017.(List current assets in order of liquidity.)
Blossom Company
Balance Sheet
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
0130674842, 978-0130674845
