Question

Quia Resources showed the following alphabetized adjusted trial balance at October 31, 2014:
Account...................Balance
Accounts payable..................................................... $ 18,400
Accounts receivable........................................................ 27,200
Accumulated amortization, mineral rights..................... 30,400
Accumulated amortization, trademark............................ 22,400
Accumulated depreciation, building................................ 81,600
Accumulated depreciation, equipment ......................... 110,400
Allowance for doubtful accounts....................................... 1,920
Ave Quia, capital............................................................ 221,280
Building.......................................................................... 147,200
Cash.................................................................................... 9,600
Equipment....................................................................... 184,000
Expenses ...................................................................... 1,443,200
Land ................................................................................. 89,600
Mineral rights .................................................................. 57,600
Note payable...................................................................... 72,000
Revenues ...................................................................... 1,433,600
Trademark......................................................................... 33,600
Other information:
a. All accounts have normal balances.
b. $38,000 of the note payable is due after October 31, 2015.

Required
Prepare a classified balance sheet at October 31, 2014.



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  • CreatedJanuary 08, 2015
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