Classified Balance Sheet The Werthman Company collected the following information for the preparation of its December 31 classified balance sheet: $15,000 Property, plant, and equipment 17.000 Inventory Accounts receivable $200,000 Cash 65.000 Other current assets 25,000 Other long-term assets 40,000 Accounts payable 21,000 Common stock 95,000 Long-term liabilities 55,000 Retained earnings Other current liabilities 18,000 Prepare a classified balance sheet for Werthman Company. Werthman Company Balance Sheet December 31 Assets Liabilities & Stockholders' Equity Current Assets: Current Liabilities: 24 24 Other current liabilities Total Current Liabilities Other current assets Noncurrent Liabilities: Total Current Assets Total Liabilities Noncurrent Assets: Stockholders' Equity Common stock Other long-term assets Total Noncurrent Assets Total Stockholders' Equity Total Assets Total Liabilities & Stockholders' Equity 5
Classified Balance Sheet The Werthman Company collected the following information for the preparation of its December 31 classified balance sheet: $15,000 Property, plant, and equipment 17.000 Inventory Accounts receivable $200,000 Cash 65.000 Other current assets 25,000 Other long-term assets 40,000 Accounts payable 21,000 Common stock 95,000 Long-term liabilities 55,000 Retained earnings Other current liabilities 18,000 Prepare a classified balance sheet for Werthman Company. Werthman Company Balance Sheet December 31 Assets Liabilities & Stockholders' Equity Current Assets: Current Liabilities: 24 24 Other current liabilities Total Current Liabilities Other current assets Noncurrent Liabilities: Total Current Assets Total Liabilities Noncurrent Assets: Stockholders' Equity Common stock Other long-term assets Total Noncurrent Assets Total Stockholders' Equity Total Assets Total Liabilities & Stockholders' Equity 5
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Classified Balance Sheet
The Werthman Company collected the following information for the preparation of its December 31 classified balance sheet:
Accounts receivable
$15,000 Property, plant, and equipment
$200,000
Cash
17,000 Inventory
65,000
Other current assets
25,000 Other long-term assets
40,000
Accounts payable
21,000 Common stock
95,000
Long-term liabilities
55,000 Retained earnings
Other current liabilities 18,000
Prepare a classified balance sheet for Werthman Company.
Werthman Company
Balance Sheet
December 31
Assets
Liabilities & Stockholders' Equity
Current Assets:
Current Liabilities:
Other current liabilities
Total Current Liabilities
Other current assetS
Noncurrent Liabilities:
Total Current Assets
Total Liabilities
Noncurrent Assets:
Stockholders' Equity
Common stock
Other long-term assets
Total Noncurrent Assets
Total Stockholders' Equity
Total Assets
Total Liabilities & Stockholders' Equity $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3cadaab7-0242-405d-ab75-d1a15c225b30%2Ff956db72-3644-4a99-951f-369c56587860%2F8hzecbg_processed.png&w=3840&q=75)
Transcribed Image Text:Classified Balance Sheet
The Werthman Company collected the following information for the preparation of its December 31 classified balance sheet:
Accounts receivable
$15,000 Property, plant, and equipment
$200,000
Cash
17,000 Inventory
65,000
Other current assets
25,000 Other long-term assets
40,000
Accounts payable
21,000 Common stock
95,000
Long-term liabilities
55,000 Retained earnings
Other current liabilities 18,000
Prepare a classified balance sheet for Werthman Company.
Werthman Company
Balance Sheet
December 31
Assets
Liabilities & Stockholders' Equity
Current Assets:
Current Liabilities:
Other current liabilities
Total Current Liabilities
Other current assetS
Noncurrent Liabilities:
Total Current Assets
Total Liabilities
Noncurrent Assets:
Stockholders' Equity
Common stock
Other long-term assets
Total Noncurrent Assets
Total Stockholders' Equity
Total Assets
Total Liabilities & Stockholders' Equity $
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