00 ollege Spirit sells sportswear with logos of major universities. At the end of the year, the following balance sheet account balances were available. Accounts payable $104,700 Income taxes payable $ 11,400 Accounts receivable 002' 23,700 Inventory 475,400 Accumulated depreciation Long-term investment 104,900 Bonds payable Note payable, short-term 000'0 000'os Cash 13,300 Prepaid rent (current) 000's Common stock Retained earnings, Dec. 31 222,500 000'00 Furniture Required: 1. Prepare a classified balance sheet for College Spirit at December 31. College Spirit Balance Sheet December 31 Assets Current assets: Total current assets Long-term investments: dnbe pue ued 'Auado Check My Wor Sxconanks t 5529

00 ollege Spirit sells sportswear with logos of major universities. At the end of the year, the following balance sheet account balances were available. Accounts payable $104,700 Income taxes payable $ 11,400 Accounts receivable 002' 23,700 Inventory 475,400 Accumulated depreciation Long-term investment 104,900 Bonds payable Note payable, short-term 000'0 000'os Cash 13,300 Prepaid rent (current) 000's Common stock Retained earnings, Dec. 31 222,500 000'00 Furniture Required: 1. Prepare a classified balance sheet for College Spirit at December 31. College Spirit Balance Sheet December 31 Assets Current assets: Total current assets Long-term investments: dnbe pue ued 'Auado Check My Wor Sxconanks t 5529

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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