The adjusted trial balance data given below is from Cameron White Company's worksheet for the year ended December 31, 20X1. Thebalance of the Notes Payable account consists of notes that are due within a year. The mortgage extends for more than a year. Theending capital for the period from the statement of owner's equity is $64,710.ADJUSTED TRIAL BALANCEACCOUNT NAMEDEBITCREDITCash$ 8,500Petty Cash FundNotes Receivable1802,80014,300Accounts ReceivableAllowance for Doubtful Accounts$ 1,900Merchandise InventoryOffice SuppliesPrepaid Insurance59,0005302,7008,80036,000LandBuildingAccumulated DepreciationStore EquipmentAccumulated DepreciationOffice EquipmentAccumulated DepreciationNotes Payable-Short-TermAccounts PayableInterest PayableMortgage PayableBuilding7,8007,300- Store Equipment3,3005,300Office Equipment2,30013,30017,30080034,000Prepare a classified balance sheet as of December 31, 20X1. (Be sure to list the accounts in order of their liquidity. Input all amountas positive values.)CAMERON WHITE COMPANYBalance SheetDecember 31, 20X1AssetsCurrent assets< Prev36 of 39Next >5,912MAY 7W18

The balance sheet is a summary of permanent accounts prepared at the end of the accounting period.…

The adiusted trial balance data given below is from Cameron White Company's worksheet for the year ended December 31, 20X1. The balance of the Notes Payable account consists of notes that are due within a year. The mortgage extends for more than a year. The ending capital for the period from the statement of owner's equity is $64,710. ADJUSTED TRIAL BALANCE ACCOUNT NAME DEBIT CREDIT Cash $ 8,500 Petty Cash Fund Notes Receivable 180 2,800 14,300 Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory $ 1,900 59,000 530 Office Supplies Prepaid Insurance 2,700 8,800 36,000 Land Building Accumulated Depreciation - Store Equipment Accumulated Depreciation Office Equipment Accumulated Depreciation Notes Payable-Short-Term Accounts Payable Interest Payable Mortgage Payable Building 7,800 7,300 - Store Equipment 3,300 5,300 - Office Equipment 2,300 13,300 17,300 800 34,000 Prepare a classified balance sheet as of December 31, 20X1. (Be sure to list the accounts in order of their liquidity. Input all amount as positive values.)

The adiusted trial balance data given below is from Cameron White Company's worksheet for the year ended December 31, 20X1. The balance of the Notes Payable account consists of notes that are due within a year. The mortgage extends for more than a year. The ending capital for the period from the statement of owner's equity is $64,710. ADJUSTED TRIAL BALANCE ACCOUNT NAME DEBIT CREDIT Cash $ 8,500 Petty Cash Fund Notes Receivable 180 2,800 14,300 Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory $ 1,900 59,000 530 Office Supplies Prepaid Insurance 2,700 8,800 36,000 Land Building Accumulated Depreciation - Store Equipment Accumulated Depreciation Office Equipment Accumulated Depreciation Notes Payable-Short-Term Accounts Payable Interest Payable Mortgage Payable Building 7,800 7,300 - Store Equipment 3,300 5,300 - Office Equipment 2,300 13,300 17,300 800 34,000 Prepare a classified balance sheet as of December 31, 20X1. (Be sure to list the accounts in order of their liquidity. Input all amount as positive values.)

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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