The following is a December 31, 2021, post-closing trial balance for the Jackson Corporation. Account Title...

 

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The following is a December 31, 2021, post-closing trial balance for the Jackson Corporation. Account Title Cash Accounts receivable Inventory Prepaid rent (for the next 8 months) Investment in equity securities (short term) Machinery Accumulated depreciation Patent (net) Accounts payable Salaries payable Income taxes payable Bonds payable (due in 10 years) Common stock Retained earnings Totals Debits Credits $ 55,000 49,000 90,000 31,000 25,000 220,000 94,000 $ 26,000 15,500 11,500 47,000 220,000 180,000 64,000 $564,000 $564,000 Required: Prepare a classified balance sheet for Jackson Corporation at December 31, 2021, by properly classify (Amounts to be deducted should be indicated by a minus sign.) The following is a December 31, 2021, post-closing trial balance for the Jackson Corporation. Account Title Cash Accounts receivable Inventory Prepaid rent (for the next 8 months) Investment in equity securities (short term) Machinery Accumulated depreciation Patent (net) Accounts payable Salaries payable Income taxes payable Bonds payable (due in 10 years) Common stock Retained earnings Totals Debits Credits $ 55,000 49,000 90,000 31,000 25,000 220,000 94,000 $ 26,000 15,500 11,500 47,000 220,000 180,000 64,000 $564,000 $564,000 Required: Prepare a classified balance sheet for Jackson Corporation at December 31, 2021, by properly classify (Amounts to be deducted should be indicated by a minus sign.)

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Lets calculate each requirement Part 1 a LongTerm Liabilities on 13123 To find LongTerm Liabilities ... View the full answer