Following is a partial set of accounts as of December 31. Equipment Accounts receivable Land Merchandise inventory Accounts payable $ 45,000 2,800 24,600 8,600 5,800 9,600 46,000 2,600 3,800 5,600 Cash Notes payable (due in 1 years) Prepaid insurance Salaries payable Accumulated Depreciation-Equipment Prepare the assets section of a classified balance sheet.

Following is a partial set of accounts as of December 31. Equipment Accounts receivable Land Merchandise inventory Accounts payable $ 45,000 2,800 24,600 8,600 5,800 9,600 46,000 2,600 3,800 5,600 Cash Notes payable (due in 1 years) Prepaid insurance Salaries payable Accumulated Depreciation-Equipment Prepare the assets section of a classified balance sheet.

Name: Following is a partial set of accounts as of December 31.$ 45,0002,80
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Description: Following is a partial set of accounts as of December 31.$ 45,0002,800EquipmentAccounts receivableLandMerchandise inventoryAccounts payableCashNotes payable (due in 1 years)Prepaid insuranceSalaries payableAccumulated Depreciation-EquipmentPrepare t

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 6E: Balance Sheet Baggett Companys balance sheet accounts and amounts as of December 31, 2019, are shown...

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Balance Sheet Baggett Companys balance sheet accounts and amounts as of December 31, 2019, are shown in random order as follows: Required: 1. Prepare a December 31, 2019, balance sheet for Baggett. 2. Compute the debt to-assets ratio.