Question

Presented below is a list of balance sheet accounts in alphabetical order.

Accounts payable .................. Inventories
Accounts receivable ................. Land (in use)
Accumulated depreciation—buildings ...... Long-term investments
Accumulated depreciation—equipment .. Notes payable (due in 6 months)
Allowance for uncollectible accounts .. Notes receivable (due in 2 years)
Bond sinking fund .................... Patent
Bonds payable (due in 10 years) ........... Preferred stock
Buildings .................... Prepaid expenses
Cash .................... Rent payable (current)
Common stock ................... Retained earnings
Copyright .................. Short-term investments
Equipment ..................... Taxes payable
Interest receivable (due in three months) ........ Wages payable

Required:
Prepare a classified balance sheet ignoring monetary amounts.



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  • CreatedJune 24, 2013
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