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Clear Water Company reports the following balance sheet accounts as of December 31. Buildings $ 50,000 3,000 Accounts receivable Land 27,000 9,000 6,000 Merchandise inventory Accounts payable Cash Notes payable (due in 7 years) Office supplies Common stock Retained earnings Wages payable Accumulated Depreciation-Buildings Prepare a classified balance sheet. 10,000 50,000 3,000 16,000 20,000 4,000 6,000

Clear Water Company reports the following balance sheet accounts as of December 31. Buildings $ 50,000 3,000 Accounts receivable Land 27,000 9,000 6,000 Merchandise inventory Accounts payable Cash Notes payable (due in 7 years) Office supplies Common stock Retained earnings Wages payable Accumulated Depreciation-Buildings Prepare a classified balance sheet. 10,000 50,000 3,000 16,000 20,000 4,000 6,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Clear Water Company reports the following balance sheet accounts as of December 31. Buildings Accounts receivable Land Merchandise inventory Accounts payable Cash Notes payable (due in 7 years) Office supplies Common stock Retained earnings Wages payable Accumulated Depreciation-Buildings Prepare a classified balance sheet. Current assets Total current assets Dlant connta Clear Water Company Balance Sheet December 31 Assets $ 50,000 3,000 27,000 9,000 6,000 10,000 50,000 3,000 16,000 20,000 4,000 6,000
Transcribed Image Text:Clear Water Company reports the following balance sheet accounts as of December 31. Buildings Accounts receivable Land Merchandise inventory Accounts payable Cash Notes payable (due in 7 years) Office supplies Common stock Retained earnings Wages payable Accumulated Depreciation-Buildings Prepare a classified balance sheet. Current assets Total current assets Dlant connta Clear Water Company Balance Sheet December 31 Assets $ 50,000 3,000 27,000 9,000 6,000 10,000 50,000 3,000 16,000 20,000 4,000 6,000
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