The following is the adjusted trial balance of Sierra Company. Sierra Company Adjusted Trial Balance December...
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The following is the adjusted trial balance of Sierra Company. Sierra Company Adjusted Trial Balance December 31 Account Title Cash Prepaid insurance Notes receivable (due in 5 years) Buildings Accumulated depreciation-Buildings Accounts payable Notes payable (due in 3 years). Common stock Retained earnings. Dividends Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals Debit $ 25,000 1,500 6,000 70,000 Credit $ 22,000 7,500 8,000 16,000 9,500 59,500 6,000 4,500 7,000 2,500 $ 122,500 $ 122,500 Use the information in the adjusted trial balance to prepare Sierra Company's classified balance sheet as of December 31. The following is the adjusted trial balance of Sierra Company. Sierra Company Adjusted Trial Balance December 31 Account Title Cash Prepaid insurance Notes receivable (due in 5 years) Buildings Accumulated depreciation-Buildings Accounts payable Notes payable (due in 3 years). Common stock Retained earnings. Dividends Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals Debit $ 25,000 1,500 6,000 70,000 Credit $ 22,000 7,500 8,000 16,000 9,500 59,500 6,000 4,500 7,000 2,500 $ 122,500 $ 122,500 Use the information in the adjusted trial balance to prepare Sierra Company's classified balance sheet as of December 31.
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