The adjusted 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 Office Supplies Prepaid Insurance $ 1,900 59,000 530 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.) CAMERON WHITE COMPANY Balance Sheet December 31, 20X1 Assets Current assets
The adjusted 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 Office Supplies Prepaid Insurance $ 1,900 59,000 530 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.) CAMERON WHITE COMPANY Balance Sheet December 31, 20X1 Assets Current assets
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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