Can you help me with this one please . And type it in boxes so I’ll know how key it in . $ 26,000Accumulated depreciation-BuildingsAccounts payable9,50010,000Notes payable (due in 3 years)L. Sierra, Capital31,5008,000L. Sierra, Withdrawals.Consulting revenueWages expense79,5004,9009,000Depreciation expense-BuildingsInsurance expenseTotals.2,900$ 156,500 $ 156,500Use the information in the adjusted trial balance to prepareSierra Company's classified balance sheet as of December31.Answer is not complete.✓Current assets✓Cash$Prepaid insuranceTotal current assets$Notes receivableBuildingsCurrent assetsAccumulated depreciation-BuildingsTotal assetsCurrent liabilitiesAccounts payableNotes payableTotal liabilitiesL. Sierra, CapitalL. Sierra, WithdrawalsTotal liabilities and equitySIERRA COMPANYBalance SheetDecember 31AssetsLiabilitiesEquity✓>>XX$ 26,000 X$$$33,0001,900✔34,9006,800✔90,000 X26,000157,7009,500✔10,000 X19,50031,500✓8,000 X59,000 The following is the adjusted trial balance of SierraCompany.Sierra CompanyAdjusted Trial BalanceDecember 31Account TitleDebitCreditCash$ 33,000Prepaid insurance1,9006,800Notes receivable (due in 5 years)Buildings90,000$ 26,000Accumulated depreciation-BuildingsAccounts payable9,500Notes payable (due in 3 years)10,000L. Sierra, Capital31,500L. Sierra, Withdrawals8,000Consulting revenue79,500Wages expense4,9009,000Depreciation expense-BuildingsInsurance expense2,900Totals$ 156,500 $ 156,500Use the information in the adjusted trial balance to prepareSierra Company's classified balance sheet as of December31.SIERRA COMPANYBalance SheetDecember 3100$

1. Balance Sheet - This Statement shows the balance of assets liabilities and Equity as of the…

The following is the adjusted trial balance of Sierra Company. Sierra Company Adjusted Trial Balance December 31 Account Title Debit Credit Cash $ 33,000 Prepaid insurance 1,900 Notes receivable (due in 5 years) Buildings 6,800 90,000 $ 26,000 Accumulated depreciation-Buildings Accounts payable 9,500 Notes payable (due in 3 years) 10,000 L. Sierra, Capital 31,500 L. Sierra, Withdrawals 8,000 Consulting revenue 79,500 Wages expense 4,900 Depreciation expense-Buildings Insurance expense 9,000 2,900 Totals $ 156,500 $ 156,500 Use the information in the adjusted trial balance to prepare Sierra Company's classified balance sheet as of December 31. SIERRA COMPANY Balance Sheet December 31 0 0 $

The following is the adjusted trial balance of Sierra Company. Sierra Company Adjusted Trial Balance December 31 Account Title Debit Credit Cash $ 33,000 Prepaid insurance 1,900 Notes receivable (due in 5 years) Buildings 6,800 90,000 $ 26,000 Accumulated depreciation-Buildings Accounts payable 9,500 Notes payable (due in 3 years) 10,000 L. Sierra, Capital 31,500 L. Sierra, Withdrawals 8,000 Consulting revenue 79,500 Wages expense 4,900 Depreciation expense-Buildings Insurance expense 9,000 2,900 Totals $ 156,500 $ 156,500 Use the information in the adjusted trial balance to prepare Sierra Company's classified balance sheet as of December 31. SIERRA COMPANY Balance Sheet December 31 0 0 $

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter2: Financial Statements And The Annual Report

Section: Chapter Questions

Problem 2.5E: Classification of Assets and Liabilities Indicate the appropriate classification of each of the...

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