After analyzing the data, prepare a classified balance sheet for JB's Auto Shop as of December 31, 2021

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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After analyzing the data, prepare a classified balance sheet for JB's Auto Shop as of December 31, 2021.

Retained earnings
Notes payable due in 2024
Long-term investments
$100,000
63,955
29,070
$169,000
74,000
13,566
Buildings
Cash
Accounts payable
Inventory
Accumulated depreciation buildings
Common stock
20,000
3,800
Salaries and wages payable 47,890
11,560
Prepaid rent
42,019
Transcribed Image Text:Retained earnings Notes payable due in 2024 Long-term investments $100,000 63,955 29,070 $169,000 74,000 13,566 Buildings Cash Accounts payable Inventory Accumulated depreciation buildings Common stock 20,000 3,800 Salaries and wages payable 47,890 11,560 Prepaid rent 42,019
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