Use the following adjusted trial balance of Hay Co. to prepare a classified balance sheet as of December 31, Account Title Debit $ 13,200 29,800 3,300 172,000 Cash Credit Accounts receivable office supplies Trucks Accumulated depreciation, trucks Land $ 46, 200 277,000 Accounts payable Interest payable Long-term notes payable (due in 4 years) Stanley Hanson, capital Stanley Hanson, withdrawals Trucking revenue Depreciation expense, trucks Salaries expense Office supplies expense Repairs expense, trucks 31, 200 420 154, 000 208, 180 19,200 170,000 22,700 59,000 6,700 7,100 $610,000 Total $610,000 Required: Prepare a classified balance sheet

Use the following adjusted trial balance of Hay Co. to prepare a classified balance sheet as of December 31, Account Title Debit $ 13,200 29,800 3,300 172,000 Cash Credit Accounts receivable office supplies Trucks Accumulated depreciation, trucks Land $ 46, 200 277,000 Accounts payable Interest payable Long-term notes payable (due in 4 years) Stanley Hanson, capital Stanley Hanson, withdrawals Trucking revenue Depreciation expense, trucks Salaries expense Office supplies expense Repairs expense, trucks 31, 200 420 154, 000 208, 180 19,200 170,000 22,700 59,000 6,700 7,100 $610,000 Total $610,000 Required: Prepare a classified balance sheet

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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