Please do not give solution in image format thanku RequiredUse the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1.Accounts receivableAccounts payableCashCommon stockLandLong-term notes payableMerchandise inventoryRetained earningsAssetsCurrent assetsCashAccounts receivableTotal current assets.Property, plant and equipmentLandTotal property, plant and equipment$42,3309,270ALPHA CO.Classified Balance SheetAs of December 31, Year 11Total assetsLiabilities and Stockholders' Equity17,74042,00016,00021,30029,92533,425$000 AssetsCurrent assetsCashAccounts receivableTotal current assetsProperty, plant and equipmentLandTotal property, plant and equipmentTotal assetsLiabilities and Stockholders' EquityCurrent liabilitiesAccounts payableLong-term liabilitiesLong-term notes payableTotal liabilitiesStockholders' equityCommon stockRetained earningsTotal stockholders' equityTotal liabilities and stockholders' equityS$$00000

Balance Sheet :— It is one of the financial statement that shows list of final balances of assets,…

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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