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The following items were taken from the financial statements of J. Sheridan Company on December 31, 2021. (All amounts are in thousands.) Long-term debt Prepaid insurance Equipment Long-term investments Short-term investments $1,050 820 11,560 374 3,760 Accumulated depreciation-equipment Accounts payable Notes payable (due after 2022) J. Sheridan, capital Accounts receivable $5,645 1.564 360 12,735 1,356

The following items were taken from the financial statements of J. Sheridan Company on December 31, 2021. (All amounts are in thousands.) Long-term debt Prepaid insurance Equipment Long-term investments Short-term investments $1,050 820 11,560 374 3,760 Accumulated depreciation-equipment Accounts payable Notes payable (due after 2022) J. Sheridan, capital Accounts receivable $5,645 1.564 360 12,735 1,356

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The following items were taken from the financial statements of J. Sheridan Company on December 31, 2021. (All amounts are in thousands.) Long-term debt Prepaid insurance Equipment Long-term investments Short-term investments Notes payable (due in 2022) Cash $1,050 820 11,560 374 3,760 560 2,688 Accumulated depreciation-equipment Accounts payable Notes payable (due after 2022) J. Sheridan, capital Accounts receivable Merchandise inventory $5,645 1,564 360 12,735 1,356 1,356 Prepare a classified balance sheet in good form as of December 31, 2021. (List Current Assets in order of liquidity.)
Transcribed Image Text:The following items were taken from the financial statements of J. Sheridan Company on December 31, 2021. (All amounts are in thousands.) Long-term debt Prepaid insurance Equipment Long-term investments Short-term investments Notes payable (due in 2022) Cash $1,050 820 11,560 374 3,760 560 2,688 Accumulated depreciation-equipment Accounts payable Notes payable (due after 2022) J. Sheridan, capital Accounts receivable Merchandise inventory $5,645 1,564 360 12,735 1,356 1,356 Prepare a classified balance sheet in good form as of December 31, 2021. (List Current Assets in order of liquidity.)
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