Please do not give solution in image format thanku BuildingsAccounts receivablePrepaid insuranceCashEquipmentLandInsurance expenseDepreciation expenseInterest expenseCommon stockRetained earnings (January 1, 2022)Accumulated depreciation-buildingsAccounts payableNotes payable$120,61214,3643,64813,49893,93669,7688896,0422,96468,40045,60051,98410,830106,704 Accounts payableNotes payableAccumulated depreciation-equipmentInterest payableService revenue10,830106,70421,3414,10416,758Prepare a classified balance sheet. Assume that $15,504 of the note payable will be paid in 2023. (List Current Assets in order of liquidityand Property, Plant and Equipment in order of Land, Buildings and Equipment.)SHERIDAN COMPANYBalance SheetAssetsSHERIDAN COMPANYBalance SheetAssets

Financial statements are those statements which are prepared at the end of accounting period for the…

Accounts payable Notes payable Accumulated depreciation-equipment Interest payable Service revenue 10,830 106,704 21,341 4,104 16,758 Prepare a classified balance sheet. Assume that $15,504 of the note payable will be paid in 2023. (List Current Assets in order of liquidity and Property, Plant and Equipment in order of Land, Buildings and Equipment.) SHERIDAN COMPANY Balance Sheet Assets SHERIDAN COMPANY Balance Sheet Assets

Accounts payable Notes payable Accumulated depreciation-equipment Interest payable Service revenue 10,830 106,704 21,341 4,104 16,758 Prepare a classified balance sheet. Assume that $15,504 of the note payable will be paid in 2023. (List Current Assets in order of liquidity and Property, Plant and Equipment in order of Land, Buildings and Equipment.) SHERIDAN COMPANY Balance Sheet Assets SHERIDAN COMPANY Balance Sheet Assets

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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Question

Please do not give solution in image format thanku

Buildings
Accounts receivable
Prepaid insurance
Cash
Equipment
Land
Insurance expense
Depreciation expense
Interest expense
Common stock
Retained earnings (January 1, 2022)
Accumulated depreciation-buildings
Accounts payable
Notes payable
$120,612
14,364
3,648
13,498
93,936
69,768
889
6,042
2,964
68,400
45,600
51,984
10,830
106,704

Accounts payable
Notes payable
Accumulated depreciation-equipment
Interest payable
Service revenue
10,830
106,704
21,341
4,104
16,758
Prepare a classified balance sheet. Assume that $15,504 of the note payable will be paid in 2023. (List Current Assets in order of liquidity
and Property, Plant and Equipment in order of Land, Buildings and Equipment.)
SHERIDAN COMPANY
Balance Sheet
Assets
SHERIDAN COMPANY
Balance Sheet
Assets

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