Question: Hello,this is Financial accounting. I need help with these questions. please answer all. I always leave thumbs up thank you! Question 1- Question 2- Question





Saved Exercise 4-16 Preparing a classified balance sheet for a merchandiser LO P4 Adams Co. reports the following balance sheet accounts as of December 31 $ Salaries payable Buildings Prepaid rent Merchandise inventory Accounts payable Prepaid Insurance Accounts receivable Common stock 7,800 Retained earnings 83,800 Notes payable (due in 9 years) 8,see Office Supplies 17,600 Land 28,eee Accumulated depreciation-Building 6,6ee Mortgages payable (due in 5 years) 22,888 Cash 28,eee $ 68,000 66, eee 5,6ee 58,000 8,600 48,000 52, Bee Required: Prepare a classified balance sheet. (Amounts to be deducted should be indicated by a minus sign.) ADAMS CO. Balance Sheet December 31 Assets Current assets 0 Total current assets tant assets Prex B of 12 !!! arch o c - G amework Total current assets $ 0 Plant assets 0 Total plant assets Total assets $ 0 Liabilities ces Current liabilities Total current liabilities Long-term liabilities S Total long-term liabilities Total liabidities 0 Equity Total equity Total abdities and equity o
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