Question: The following data pertain to Wagoner Company Accounts Payable 20 400
The following data pertain to Wagoner Company: Accounts Payable, $20,400; Accounts Receivable, $15,200; Accumulated Depreciation—Building, $5,600; Accumulated Depreciation—Equipment, $6,800; Bonds Payable, $24,000; Building, $28,000; Cash, $12,480; Copyright, $2,480; Equipment, $60,800; Inventory, $16,000; Investment in Corporate Securities (long-term), $8,000; Investment in Six-Month Government Securities, $6,560; Y. Wagoner, Capital, $95,280; Land, $3,200; Prepaid Rent, $480; and Revenue Received in Advance, $1,120. Prepare a classified balance sheet at December 31, 2014. Assume that this is Wagoner’s first year of operations.
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