2. The following information is available for Sergio Company for the year ended December 31 2016: Accounts payable Accumulated depreciation-equipment Owner's capital Intangible assets Notes payable (due in 5 years) Accounts receivable Cash Short-term investments Equipment Long-term investments $ 4,300 5,000 8,300 2,500 6,500 1,900 2,800 2,500 8,700 5.700 Instructions Use the above information to prepare a classified balance sheet for the year ended December 31, 2016.

2. The following information is available for Sergio Company for the year ended December 31 2016: Accounts payable Accumulated depreciation-equipment Owner's capital Intangible assets Notes payable (due in 5 years) Accounts receivable Cash Short-term investments Equipment Long-term investments $ 4,300 5,000 8,300 2,500 6,500 1,900 2,800 2,500 8,700 5.700 Instructions Use the above information to prepare a classified balance sheet for the year ended December 31, 2016.

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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