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Use the following adjusted trial balance of Hay Co. to prepare a classified balance sheet as of December 31, 2020. Account Title Cash Accounts receivable
Use the following adjusted trial balance of Hay Co. to prepare a classified balance sheet as of December 31, 2020. Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation, trucks Land Accounts payable Interest payable Long-term notes payable (due in 4 years) Stanley Hanson, capital Stanley Hanson, withdrawals Trucking revenue Depreciation expense, trucks Salaries expense Office supplies expense Repairs expense, trucks Total Debit $ 12,000 Credit 28,600 2,100 160,000 $ 45,000 265,000 30,000 300 142,000 196,300 18,000 158,000 21,500 53,000 5,500 5,900 $571,600 $571,600 Required: Prepare a classified balance sheet. Current assets: Total current assets Property, plant and equipment: HAY CO. Balance Sheet December 31, 2020 Assets Total property, plant and equipment Total assets Current liabilities: Total current liabilities Non-Current Liabilities: Total non-current liabilities. Liabilities
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