Using the information from the alphabetized post-closing trial balance below, prepare a classified balance sheet for Malta
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Using the information from the alphabetized post-closing trial balance below, prepare a classified balance sheet for Malta Industries Inc. as at October 31, 2023. Be sure to use proper form, including all appropriate subtotals.
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Accounts Payable.. Accounts Receivable. Accumulated Depreciation-Building.. Accumulated Depreciation Machinery... Building.. Cash.. Common Shares (unlimited shares authorized; 50,000 shares issued at an average price of $44.80 per share; market price per share on October 31, 2023, $79.80)....... Land. Long-Term Notes Payable (due in 2027).. Machinery...... Account Description Office Supplies... Preferred Shares ($2.10 non-cumulative, unlimited shares authorized; 30,000 shares issued at an average price of $48 per share; market price per share on October 31, 2023, $72).. Prepaid Insurance.... Retained Earnings... Unearned Revenue..... Wages Payable. *Assume all accounts have normal balances. Account Balance* $ 221,200 315,000 1,166,200 1,068,200 4,025,000 497,000 ? 1,400,000 770,000 2,240,000 119,000 ? 20,400 ? 33,600 156,000
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Assets Current assets Cash Accounts receivable Office supplies Prepaid insurance Total current asset...View the full answer
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Related Book For
Fundamental Accounting Principles Volume 2
ISBN: 9781260881332
17th Canadian Edition
Authors: Kermit D. Larson, Heidi Dieckmann, John Harris
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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