Required Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1. Accounts receivable Accounts payable Cash Common stock Land Long-term notes payable Merchandise inventory Retained earnings $40,920 9,090 17,320 41,000 25,940 21,500 30,700 43,290
Required Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1. Accounts receivable Accounts payable Cash Common stock Land Long-term notes payable Merchandise inventory Retained earnings $40,920 9,090 17,320 41,000 25,940 21,500 30,700 43,290
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please help me fill out this balance sheet . I am so lost and confused on how to fill it out. Thank you so much.
![Required
Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1.
Accounts receivable
Accounts payable
Cash
Common stock
Land
Long-term notes payable
Merchandise inventory
Retained earnings
$40,920
9,090
17,320
41,000
25,940
21,500
30,700
43,290](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdbf8765a-c0ab-46fe-8663-61e338d72b7c%2F6100724a-e097-4438-be61-481db8539886%2Fae60apj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required
Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1.
Accounts receivable
Accounts payable
Cash
Common stock
Land
Long-term notes payable
Merchandise inventory
Retained earnings
$40,920
9,090
17,320
41,000
25,940
21,500
30,700
43,290
![Current assets
Total current assets
Property, plant and equipment
Total property, plant and equipment
Total assets
Current liabilities
Long-term liabilities
Classified Balance Sheet
As of December 31, Year 1
Total liabilities
Stockholders' equity
Liabilities and Stockholders' Equity
Total stockholders' equity
Total liabilities and stockholders' equity
$
$
$
0
OO
0
0
0
0
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdbf8765a-c0ab-46fe-8663-61e338d72b7c%2F6100724a-e097-4438-be61-481db8539886%2F6b93ej_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Current assets
Total current assets
Property, plant and equipment
Total property, plant and equipment
Total assets
Current liabilities
Long-term liabilities
Classified Balance Sheet
As of December 31, Year 1
Total liabilities
Stockholders' equity
Liabilities and Stockholders' Equity
Total stockholders' equity
Total liabilities and stockholders' equity
$
$
$
0
OO
0
0
0
0
0
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