The following items were taken from the post adjusted trial balance of Flip Company. (All balances are normal.)

Instructions:

Prepare a classified balance sheet in good form as of December 31, 2013.

Transcribed Image Text:

Mortgage payable Prepaid expenses Equipment Long-term investments Short-term investments Notes payable in 2014 Cash $ 1,443 880 11,000 1,100 3,690 1,000 2,100 Accumulated depreciation Accounts payable Notes payable after 2015 Flip's capital Accounts receivable Inventories 3,655 1,444 1,200 13,480 1,696 1,756 Mortgage payable Prepaid expenses Equipment Long-term investments Short-term investments Notes payable in 2014 Cash $ 1,443 880 11,000 1,100 3,690 1,000 2,100 Accumulated depreciation Accounts payable Notes payable after 2015 Flip's capital Accounts receivable Inventories 3,655 1,444 1,200 13,480 1,696 1,756

Answer rating: 100% (QA)

Flip Company Balance Sheet As of December 31 2013 Flips capital 13480 E... View the full answer