Conner Corporation's December 31 post-closing trial balance contains the following normal account balances: Required Prepare a December
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Conner Corporation's December 31 post-closing trial balance contains the following normal account balances:
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Prepare a December 31 classified balance sheet for Conner Corporation,
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Cash.... Accounts payable.. Building... Long-term notes payable Common stock.... Retained earnings Accumulated depreciation-Equipment.. Land..... Accounts receivable.. Accumulated depreciation-Building 10,000 13,000 260,000 940,000 420,000 342,000 130,000 1,129,000 21,000 70,000 Interest payable.... 24,000 Patent (net of amortization) 60,000 Notes payable (short term) 80,000 Inventory..... 137,000 Equipment. 266,000 Allowance for doubtful accounts......... 1,000 Accumulated depreciation - Leasehold improvements. 22,000 Leasehold improvements......... 140,000 Trademark (net of amortization). 19,000
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