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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

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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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
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
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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