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These items are taken from the financial statements of Sheridan Company at December 31, 2022. Buildings $ 97,336 Accounts receivable 11,592 Prepaid insurance 2,944 Cash
These items are taken from the financial statements of Sheridan Company at December 31, 2022.
Buildings | $ 97,336 | |
Accounts receivable | 11,592 | |
Prepaid insurance | 2,944 | |
Cash | 10,893 | |
Equipment | 75,808 | |
Land | 56,304 | |
Insurance expense | 718 | |
Depreciation expense | 4,876 | |
Interest expense | 2,392 | |
Common stock | 55,200 | |
Retained earnings (January 1, 2022) | 36,801 | |
Accumulated depreciationbuildings | 41,952 | |
Accounts payable | 8,740 | |
Notes payable | 86,112 | |
Accumulated depreciationequipment | 17,222 | |
Interest payable | 3,312 | |
Service revenue | 13,524 |
Prepare a classified balance sheet. Assume that $ 12,512 of the note payable will be paid in 2023. (List Current Assets in order of liquidity and Property, Plant and Equipment in order of Land, Buildings and Equipment.)
SHERIDAN COMPANY Balance Sheet V Assets $ $ > Liabilities and Stockholders' Equity $ > >Step by Step Solution
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