-prepare a classified balance sheet in a good format. ( used statement form )
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Presented below are a number of a balance sheet items for Al-Rasheed
company for the current year 2007.
Fixed Assets
Furnitures 325
Cars 1100
Building 3200
Owner's equity
Capital 6735
Net income 170
With drawals 200
Long term liabilities
Long payable 1000
Mortgage payable 1700
Short term liabilities
Notes payable 470
Account payable 550
Current Assets
Cash 1425
Bank 1550
Short term investment 900
Note receivable 500
Account receivable 675
Ending inventory 750
Ins:-
2-prepare a classified balance sheet in a good format.
( used statement form )
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