Question
Use the following information for Quick Studies below. Skip to question [The following information applies to the questions displayed below.] The following is the adjusted
Use the following information for Quick Studies below. Skip to question [The following information applies to the questions displayed below.] The following is the adjusted trial balance of Sierra Company. Account Title Debit Credit Cash $ 15,000 Prepaid insurance 1,000 Notes receivable (due in 5 years) 5,000 Buildings 45,000 Accumulated depreciationBuildings $ 17,000 Accounts payable 5,000 Notes payable (due in 3 years) 5,500 H. Sierra, Capital 18,000 H. Sierra, Withdrawals 3,500 Consulting revenue 34,500 Wages expense 4,000 Depreciation expenseBuildings 4,500 Insurance expense 2,000 Totals $ 80,000 $ 80,000 QS 4-11 Preparing a classified balance sheet LO C3 Use the information adjusted trial balance to prepare Sierra Companys classified balance sheet as of December 31.
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