what are the three sections for debits, credits, and total. Here is a picture with an empy cells for what it should look like. The blue cells should be from the chart of accounts Required: Prepare a Balance sheet in good form (always start with the top row in each section)Balance SheetDate ChoicesCurrent AssetsTotal current assetsLong-term InvestmentsTotal long-term investmentsProperty plant & equipmentIntangible assetsTotal Intangible assetsTotal AssetsCurrent LiabilitiesTotal Current liabiltiesLong-term liabiltiesNotes payable - long-termTotal LiabiliitiesStockholders' equityTotal Stockholders' equityTotal liabilities and stockholders' equityChart of AccountsAccounts payableAccounts ReceivableAccumulated depreciation - buildingAccumulated depreciation - equipmentAllowance for bad debtsBond sinking fundBonds payable 7%BuildingsCashCash surrender value life insuranceCommon stockDiscount on bond payableEquipmentFanchiseGoodwillIncome taxes payableInventoryInvestments in stock - long-termInvestments in stock - short-termLandLand held for future useNotes payable- long-termNotes payable -short-termPaid in capital - common stockPreferred stockRetained earningsUnearned rent revenue

separate the items of financial statements into assets and liabilities

Answered: equired: Prepare a Balance sheet in…

Business

Accounting

equired: Prepare a Balance sheet in good form (always start with the top row in each section)

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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show calculations where needed
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how do debits and credits work?