Question: Please see the attached document. Need to prepare a classified balance sheet based on the information given in the post-closing trial balance and the additional

 Please see the attached document. Need to prepare a classified balance

Please see the attached document. Need to prepare a classified balance sheet based on the information given in the post-closing trial balance and the additional information that is presented.

sheet based on the information given in the post-closing trial balance and

Demonstration Problem 3-5 The following is a December 31, 2016, post-closing trial balance for the Alexandria Exploration Corporation. Account Title Debits Credits Cash ............................................................ 52,000 Accounts receivable ................................... 223,000 Allowance for uncollectible accounts ........ 15,000 Inventories .................................................. 200,000 Supplies ...................................................... 3,000 Investments ................................................ 140,000 Land ........................................................... 100,000 Buildings .................................................... 500,000 Accumulated depreciation - buildings ....... 150,000 Machinery .................................................. 250,000 Accumulated depreciation - machinery ..... 80,000 Goodwill .................................................... 36,000 Accounts payable ....................................... 125,000 Bonds payable ............................................ 500,000 Interest payable .......................................... 40,000 Common stock ........................................... 500,000 Retained earnings ....................................... ______ 94,000 Totals 1,504,000 1,504,000 Additional information: 1. Accounts receivable includes a $50,000 note receivable received from a customer that is due in 2018. Also included is interest on the note of $3,000 that is due in six months. 2. The land account includes land that cost $20,000 that the company has not used and is currently listed for sale. 3. The investment account includes a $10,000, 3-month certificate of deposit due in 40 days. The remaining investments will be sold within the next year. 4. The bonds payable account consists of the following: a. a $200,000 issue due in six months. b. a $300,000 issue due in six years. 5. The common stock account represents 500,000 shares of no par value common stock issued and outstanding. The corporation has 1,000,000 shares authorized. Required: Prepare a classified balance sheet for Alexandria at December 31, 2016

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