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You are provided with the following information for Concord Corporation, effective as of its April 30, 2014, year-end. Accounts payable $3,135 Accounts receivable 10,320 Accumulated
You are provided with the following information for Concord Corporation, effective as of its April 30, 2014, year-end.
Accounts payable | $3,135 | |
Accounts receivable | 10,320 | |
Accumulated depreciationequipment | 6,600 | |
Depreciation expense | 3,165 | |
Cash | 21,125 | |
Common stock | 20,510 | |
Dividends | 2,835 | |
Equipment | 24,420 | |
Sales revenue | 20,485 | |
Income tax expense | 735 | |
Income taxes payable | 335 | |
Interest expense | 385 | |
Interest payable | 210 | |
Notes payable (due in 2018) | 4,870 | |
Prepaid rent | 415 | |
Rent expense | 830 | |
Retained earnings, beginning | 13,960 | |
Salaries and wages expense | 6,010 |
Prepare a classified balance sheet for Concord Corporation as of April 30, 2014. (List current assets in order of liquidity.)
Concord Corporation Balance Sheet For the Year Ended April 30, 2014 4 Assets Liabilities and Stockholders' Equity
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