The following information was obtained from shahan co. as of Dec.31 2018. Retain Earning $ 155,000 Deferred income Tax liability $ 30,000 Common Stock ? Long term Debts 95,000 Accounts Payable 35,000 Current maturities of long term debts 25,000 Treasury Stock(at cost) 10,000 Plant Assets 570,000 Long term Investment 200,000 Short Term Investment 75,000 Cash 65,000 Inventories 85,000 Allowance for Bad Debts 5,000 Allowance for Depreciation 50,000 Accounts Receivable 125,000 Prepaid Expenses 4,000 Accrued Income Tax 7,000 patents 40,000 Required: To prepare classified Balance Sheet in report form as on Dec.31 2018.
The following information was obtained from shahan co. as of Dec.31 2018.
Common Stock ? Long term Debts 95,000
Accounts Payable 35,000 Current maturities of long term debts 25,000
Long term Investment 200,000 Short Term Investment 75,000
Cash 65,000 Inventories 85,000
Allowance for
Accrued Income Tax 7,000 patents 40,000
Required: To prepare classified
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