A company's post-closing trial balance as of December 31, 2021 is shown below:   Accounts Debit   Credit Cash $ 22,600             Accounts receivable   23,100             Prepaid insurance   4,700             Supplies   210,000             Long-Term Investments   54,000             Land   47,000             Buildings   280,000             Accumulated depreciation           88,000     Accounts payable           37,400     Notes payable, due 2022           61,000     Interest payable           10,000     Notes payable, due 2031           126,000     Common stock           210,000     Retained earnings           109,000     Totals $ 641,400     $ 641,400       Prepare a classified balance sheet at December 31, 2021. (Amounts to be deducted should be indicated with a minus sign.)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A company's post-closing trial balance as of December 31, 2021 is shown below:

 

Accounts Debit   Credit
Cash $ 22,600            
Accounts receivable   23,100            
Prepaid insurance   4,700            
Supplies   210,000            
Long-Term Investments   54,000            
Land   47,000            
Buildings   280,000            
Accumulated depreciation           88,000    
Accounts payable           37,400    
Notes payable, due 2022           61,000    
Interest payable           10,000    
Notes payable, due 2031           126,000    
Common stock           210,000    
Retained earnings           109,000    
Totals $ 641,400     $ 641,400    
 


Prepare a classified balance sheet at December 31, 2021. (Amounts to be deducted should be indicated with a minus sign.)

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