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Current Liabilities Accounts Payable Interest Payable Total Current Liabilities Long-Term Liabilities Liabilities and Stockholders' Equity

Current Liabilities Accounts Payable Interest Payable Total Current Liabilities Long-Term Liabilities Liabilities and Stockholders' Equity

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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Current Liabilities Accounts Payable Interest Payable Total Current Liabilities Long-Term Liabilities Notes Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity 9,310 3,521 58,80X C 45,09¹
Transcribed Image Text:Current Liabilities Accounts Payable Interest Payable Total Current Liabilities Long-Term Liabilities Notes Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity 9,310 3,521 58,80X C 45,09¹
These items are taken from the financial statements of Sandhill Co, at December 31.2022 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2022) Accumulated depreciation-buildings Accounts payable Notes payable Accumulated depreciation equipment Interest payable Service revenue $103,684 12.348 3,136 11,603 80,752 59,976 764 5,194 2,548 58,800 39,199 44,688 9,310 91,728 18,346 3,528 14,406 Prepare a classified balance sheet. Assume that $13,328 of the note payable will be paid in 2023. (List Current Assets in order of liquidity and Property, Plant and Equipment in order of Land, Buildings and Equipment.)
Transcribed Image Text:These items are taken from the financial statements of Sandhill Co, at December 31.2022 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2022) Accumulated depreciation-buildings Accounts payable Notes payable Accumulated depreciation equipment Interest payable Service revenue $103,684 12.348 3,136 11,603 80,752 59,976 764 5,194 2,548 58,800 39,199 44,688 9,310 91,728 18,346 3,528 14,406 Prepare a classified balance sheet. Assume that $13,328 of the note payable will be paid in 2023. (List Current Assets in order of liquidity and Property, Plant and Equipment in order of Land, Buildings and Equipment.)
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