Cullumber Company had the following account balances on December 31, 2022. Retained earnings $54,800 Common stock $76,400 Notes payable 16,200 Interest payable 3,500 Bonds payable 25,200 Accounts payable 8,500 Prepare the liability and stockholders' equity section of a classified balance sheet in good form as of December 31, 2022. Assume that $3,200 of the note payable will be paid during 2023.

Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
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Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 17BEA: Ernst Companys balance sheet shows total liabilities of 32,500,000, total stockholders equity of...
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answer must be in table format or i will give down vote

Cullumber Company had the following account balances on December 31, 2022.
Retained earnings
$54,800
Common stock
$76,400
Notes payable
16,200
Interest payable
3,500
Bonds payable
25,200
Accounts payable
8,500
Prepare the liability and stockholders' equity section of a classified balance sheet in good form as of December 31, 2022. Assume that
$3,200 of the note payable will be paid during 2023.
Transcribed Image Text:Cullumber Company had the following account balances on December 31, 2022. Retained earnings $54,800 Common stock $76,400 Notes payable 16,200 Interest payable 3,500 Bonds payable 25,200 Accounts payable 8,500 Prepare the liability and stockholders' equity section of a classified balance sheet in good form as of December 31, 2022. Assume that $3,200 of the note payable will be paid during 2023.
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