Presented below is a list of balance sheet accounts. Accounts payable Accounts receivable. Accumulated depreciation-buildings Accumulated depreciation-equipment Allowance for uncollectible accounts Land (held for speculation) Bonds payable (due in 10 years) Buildings Notes payable (due in 6 months) Notes receivable (due in 2 years) Patent (net) Additional paid-in capital Prepaid expenses Current assets: Cash Required: Prepare a classified balance sheet ignoring monetary amounts. Note: Enter the answer in the order of liquidity. Short-term investments Accounts receivable Interest receivable Inventory Prepaid expenses Total current assets Name of Company Balance Sheet At [date] Assets Investments: Cash Common stock Notes receivable Long-term equity investments Copyright (net) Equipment Interest receivable (due in three months) Inventory Land (in use) Long-term equity investments Interest payable (current) Retained earnings Short-term investments Income taxes payable Salaries payable

Presented below is a list of balance sheet accounts. Accounts payable Accounts receivable. Accumulated depreciation-buildings Accumulated depreciation-equipment Allowance for uncollectible accounts Land (held for speculation) Bonds payable (due in 10 years) Buildings Notes payable (due in 6 months) Notes receivable (due in 2 years) Patent (net) Additional paid-in capital Prepaid expenses Current assets: Cash Required: Prepare a classified balance sheet ignoring monetary amounts. Note: Enter the answer in the order of liquidity. Short-term investments Accounts receivable Interest receivable Inventory Prepaid expenses Total current assets Name of Company Balance Sheet At [date] Assets Investments: Cash Common stock Notes receivable Long-term equity investments Copyright (net) Equipment Interest receivable (due in three months) Inventory Land (in use) Long-term equity investments Interest payable (current) Retained earnings Short-term investments Income taxes payable Salaries payable

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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