The following items were taken from the financial statements of J. Parra Company on December 31, 2024.
Question:
The following items were taken from the financial statements of J. Parra Company on December 31, 2024. (All amounts are in thousands.)
Instructions
Prepare a classified balance sheet in good form as at December 31, 2024.
Transcribed Image Text:
Long-term debt Prepaid insurance Equipment Long-term investments Short-term investments Notes payable (due in 2025) Cash $ 1,000 880 11,500 264 3,690 500 2,668 Accumulated depreciation equipment Accounts payable Notes payable (due after 2025) J. Parra, capital Accounts receivable Merchandise inventory $ 5,655 1,444 400 12,955 1,696 1,256
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Related Book For
Accounting Principles Volume 1
ISBN: 9781119786818
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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