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Classified Balance Sheet The George Company collected the following information for the prepara - tion of its December 31 classified balance sheet: Accounts receivable . . . . $22,000 Property, plant, and equipment. . . . . . . $200,000 Cash 17,000 Inventory 57,000 Other current assets payable. .. 25,000 Other long-term assets... ... 25,000 Common stock 92,000 Long-term liabilities.. 40,000 Accounts . 60,000

Classified Balance Sheet The George Company collected the following information for the prepara - tion of its December 31 classified balance sheet: Accounts receivable . . . . $22,000 Property, plant, and equipment. . . . . . . $200,000 Cash 17,000 Inventory 57,000 Other current assets payable. .. 25,000 Other long-term assets... ... 25,000 Common stock 92,000 Long-term liabilities.. 40,000 Accounts . 60,000

FINANCIAL ACCOUNTING
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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Classified Balance Sheet The George Company collected the following information for the prepara - tion of its December 31 classified balance sheet: Accounts receivable .. $22,000 Property, plant, and equipment. . . . $200,000 Cash payable. Retained earnings 17,000 Inventory 57,000 Other current assets 25,000 Other long-term assets .. 25,000 Common stock 92,000 Long-term liabilities. 40,000 Accounts 60,000 . ? Other current liabilities 19,000 Prepare a classified balance sheet for the George Company.
Transcribed Image Text:Classified Balance Sheet The George Company collected the following information for the prepara - tion of its December 31 classified balance sheet: Accounts receivable .. $22,000 Property, plant, and equipment. . . . $200,000 Cash payable. Retained earnings 17,000 Inventory 57,000 Other current assets 25,000 Other long-term assets .. 25,000 Common stock 92,000 Long-term liabilities. 40,000 Accounts 60,000 . ? Other current liabilities 19,000 Prepare a classified balance sheet for the George Company.
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