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The December 31, 2021, post-closing trial balance for Strong Corporation is presented below: Accounts Debit Credit $ 22,300 Cash Accounts receivable Prepaid insurance Supplies Long-Term Investments Land Buildings Accumulated depreciation Accounts payable Notes payable, due 2022 Interest payable Notes payable, due 2031 Common stock Retained earnings Totals Current Assets: Total current assets Long-term assets: Total long-term assets Total assets 22,000 4,900 Prepare a classified balance sheet for Strong Corporation at December 31, 2021. (Amounts to be deducted should be indicated with a minus sign.) Assets 210,000 52,000 42,000 279,000 85,000 37,200 61,000 12,000 121,000 200,000 116,000 $632,200 $632, 200 STRONG CORPORATION Balance Sheet As of December 31, 2021 $ $ 0 0 0 Current liabilities: Liabilities and Stockholders' Equity Total current liabilities Long-term liabilities: Total liabilities Stockholders' Equity: Total stockholders' equity Total liabilities and stockholders' equity P $ $ 0 0 0 0

The December 31, 2021, post-closing trial balance for Strong Corporation is presented below: Accounts Debit Credit $ 22,300 Cash Accounts receivable Prepaid insurance Supplies Long-Term Investments Land Buildings Accumulated depreciation Accounts payable Notes payable, due 2022 Interest payable Notes payable, due 2031 Common stock Retained earnings Totals Current Assets: Total current assets Long-term assets: Total long-term assets Total assets 22,000 4,900 Prepare a classified balance sheet for Strong Corporation at December 31, 2021. (Amounts to be deducted should be indicated with a minus sign.) Assets 210,000 52,000 42,000 279,000 85,000 37,200 61,000 12,000 121,000 200,000 116,000 $632,200 $632, 200 STRONG CORPORATION Balance Sheet As of December 31, 2021 $ $ 0 0 0 Current liabilities: Liabilities and Stockholders' Equity Total current liabilities Long-term liabilities: Total liabilities Stockholders' Equity: Total stockholders' equity Total liabilities and stockholders' equity P $ $ 0 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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The December 31, 2021, post-closing trial balance for Strong Corporation is presented below: Accounts Debit Credit $ 22,300 Cash Accounts receivable Prepaid insurance Supplies Long-Term Investments Land Buildings Accumulated depreciation Accounts payable Notes payable, due 2022 Interest payable Notes payable, due 2031 Common stock Retained earnings Totals Current Assets: Total current assets Long-term assets: Total long-term assets Total assets 22,000 4,900 Prepare a classified balance sheet for Strong Corporation at December 31, 2021. (Amounts to be deducted should be indicated with a minus sign.) Assets 210,000 52,000 42,000 279,000 85,000 37,200 61,000 12,000 121,000 200,000 116,000 $632,200 $632, 200 STRONG CORPORATION Balance Sheet As of December 31, 2021 $ $ 0 0 0 Current liabilities: Liabilities and Stockholders' Equity Total current liabilities Long-term liabilities: Total liabilities Stockholders' Equity: Total stockholders' equity Total liabilities and stockholders' equity N $ $ 0 0 0 0
Transcribed Image Text:The December 31, 2021, post-closing trial balance for Strong Corporation is presented below: Accounts Debit Credit $ 22,300 Cash Accounts receivable Prepaid insurance Supplies Long-Term Investments Land Buildings Accumulated depreciation Accounts payable Notes payable, due 2022 Interest payable Notes payable, due 2031 Common stock Retained earnings Totals Current Assets: Total current assets Long-term assets: Total long-term assets Total assets 22,000 4,900 Prepare a classified balance sheet for Strong Corporation at December 31, 2021. (Amounts to be deducted should be indicated with a minus sign.) Assets 210,000 52,000 42,000 279,000 85,000 37,200 61,000 12,000 121,000 200,000 116,000 $632,200 $632, 200 STRONG CORPORATION Balance Sheet As of December 31, 2021 $ $ 0 0 0 Current liabilities: Liabilities and Stockholders' Equity Total current liabilities Long-term liabilities: Total liabilities Stockholders' Equity: Total stockholders' equity Total liabilities and stockholders' equity N $ $ 0 0 0 0
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