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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 Assets Current assets Cash Accounts receivable Total current assets Property, plant and equipment ALPHA CO. Classified Balance Sheet As of December 31, Year 11 Land Total property, plant and equipment $42,330 9,270 17,740 42,000 16,000 Total assets Liabilities and Stockholders' Equity 21,300 29,925 33,425 $ 0 0 0

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 Assets Current assets Cash Accounts receivable Total current assets Property, plant and equipment ALPHA CO. Classified Balance Sheet As of December 31, Year 11 Land Total property, plant and equipment $42,330 9,270 17,740 42,000 16,000 Total assets Liabilities and Stockholders' Equity 21,300 29,925 33,425 $ 0 0 0

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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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 Assets Current assets Cash Accounts receivable Total current assets. Property, plant and equipment Land Total property, plant and equipment $42,330 9,270 ALPHA CO. Classified Balance Sheet As of December 31, Year 11 Total assets Liabilities and Stockholders' Equity 17,740 42,000 16,000 21,300 29,925 33,425 $ 0 0 0
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 Assets Current assets Cash Accounts receivable Total current assets. Property, plant and equipment Land Total property, plant and equipment $42,330 9,270 ALPHA CO. Classified Balance Sheet As of December 31, Year 11 Total assets Liabilities and Stockholders' Equity 17,740 42,000 16,000 21,300 29,925 33,425 $ 0 0 0
Assets Current assets Cash Accounts receivable Total current assets Property, plant and equipment Land Total property, plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Long-term liabilities Long-term notes payable Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity S $ $ 0 0 0 0 0
Transcribed Image Text:Assets Current assets Cash Accounts receivable Total current assets Property, plant and equipment Land Total property, plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Long-term liabilities Long-term notes payable Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity S $ $ 0 0 0 0 0
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