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Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1. Accounts receivable: $42,380 Accounts payable: 9,085
Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1.
Accounts receivable: $42,380
Accounts payable: 9,085
Cash: 13,870
Common stock: 41,000
Land: 15,000
Long-term notes payable: 24,200
Merchandise inventory: 28,475
Retained earnings: 25,440
( I have an hour before my time is up!! )
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