The following is a post-closing trial balance as of December 31, 2021 for Culver City Lighting, Inc.

account title		Debts				Credits
Money	ps	58,000
accounts receivable		42,000
Inventory		48,000
prepaid insurance		18,000
Equipment		130.000
Accumulated depreciation					ps	37,000
Patent (net)		43,000
Accounts payable						13,500
interest to pay						3500
Notes payable (due in 10 years)						130.000
Common actions						73,000
Retained earnings						82,000
Totals	ps	339,000			ps	339,000

Prepare a classified balance sheet for Culver City Lighting, Inc.

Answer rating: 100% (QA)

Culver City Lighting Inc Classified Balance Sheet December 31 2021 Asse... View the full answer