14 14 Skipped eBook Print QS 6-14 (Algo) Preparing current assets section of balance sheet LO...

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14 14 Skipped eBook Print QS 6-14 (Algo) Preparing current assets section of balance sheet LO C2 Use the following information to prepare the current assets section of Lima Company's classified balance sheet as of December 31. Adjusted Trial Balance Cash and equivalents Accounts receivable Merchandise inventory Prepaid insurance Land Accounts payable Common stock Retained earnings Sales Cost of goods sold References Wages expense Totals Debit $ 4,100 Credit 2,100 5,100 1,100 20,100 $ 3,100 10,200 16,300 17,100 8,100 6,100 $ 46,700 $ 46,700 Current assets LIMA COMPANY Balance Sheet December 31 Assets Total current assets 14 14 Skipped eBook Print QS 6-14 (Algo) Preparing current assets section of balance sheet LO C2 Use the following information to prepare the current assets section of Lima Company's classified balance sheet as of December 31. Adjusted Trial Balance Cash and equivalents Accounts receivable Merchandise inventory Prepaid insurance Land Accounts payable Common stock Retained earnings Sales Cost of goods sold References Wages expense Totals Debit $ 4,100 Credit 2,100 5,100 1,100 20,100 $ 3,100 10,200 16,300 17,100 8,100 6,100 $ 46,700 $ 46,700 Current assets LIMA COMPANY Balance Sheet December 31 Assets Total current assets

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