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

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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