Use the following selected accounts and amounts with normal balances from Juan Company's adjusted trial balance to prepares classified balance sheet at December 31. Wages payable Building Cash Interest payable L. Juan, Capital $1,260 Accounts receivable 126,000 Accumulated depreciation Building 22,680 Notes payable (due in 5 years) 2,520 Notes receivable (due in 14 years) 63,000 Accounts payable JUAN COMPANY Balance Sheet December 31 $ 8,820 37,800 64,260 25,200 13,860

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is