Charlie's Crispy Chicken $($CCC$)$ operates a fast$-$food restaurant. When accounting for its first year of business, CCC created several

accounts.

Balance

$$3,100$ Payment due in $30$ days

$3,600$ Includes cash in register and in bank account

$38,000$ Stock issued in exchange for owners' contributions

$51,000$ Includes deep fryers, microwaves, dishwasher, etc.

$24,400$ Held for future site of new restaurant

$36,000$ Payment due in six years

$4,100$ Total earnings through September $30$

$300$ Payment due in $7$ days

$2,500$ Includes serving trays, condiment dispensers, etc.

Required:

Using the above descriptions, prepare a classified balance sheet at September $30.$

Calculate CCC current ratio. Are CCC$\text{'}$s current assets sufficient to cover CCC$\text{'}$s current liabilities?

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Required $1$

Using the above descriptions, prepare a classified balance sheet at September $30.$