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Prepare a classified balance sheet for Tucson Company for the year ended December 31 using the following data. Note: Amounts to be deducted should be indicated by a minus sign. Common stock Cash Land Retained earnings Accounts receivable Paid-in capital in excess of par value, common stock Notes payable (due in 5 years) Preferred stock Salaries payable Accounts payable Treasury stock Raid-in capital in excess of par value, preferred stock $ 1,000 23,800 44,000 16,500 6,800 17,000 13,800 8,000 8,800 13,500 6,000 2,000

Prepare a classified balance sheet for Tucson Company for the year ended December 31 using the following data. Note: Amounts to be deducted should be indicated by a minus sign. Common stock Cash Land Retained earnings Accounts receivable Paid-in capital in excess of par value, common stock Notes payable (due in 5 years) Preferred stock Salaries payable Accounts payable Treasury stock Raid-in capital in excess of par value, preferred stock $ 1,000 23,800 44,000 16,500 6,800 17,000 13,800 8,000 8,800 13,500 6,000 2,000

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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Prepare a classified balance sheet for Tucson Company for the year ended December 31 using the following data. Note: Amounts to be deducted should be indicated by a minus sign. Common stock Cash Land Retained earnings Accounts receivable Paid-in capital in excess of par value, common stock Notes payable (due in 5 years) Preferred stock Salaries payable Accounts payable Treasury stock Paid-in capital in excess of par value, preferred stock $ 1,000 23,800 44,000 16,500 6,800 17,000 13,800 8,000 8,800 13,500 6,000 2,000
Transcribed Image Text:Prepare a classified balance sheet for Tucson Company for the year ended December 31 using the following data. Note: Amounts to be deducted should be indicated by a minus sign. Common stock Cash Land Retained earnings Accounts receivable Paid-in capital in excess of par value, common stock Notes payable (due in 5 years) Preferred stock Salaries payable Accounts payable Treasury stock Paid-in capital in excess of par value, preferred stock $ 1,000 23,800 44,000 16,500 6,800 17,000 13,800 8,000 8,800 13,500 6,000 2,000
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