The following items are taken from the financial statements of Sandhill Co . at December 3 1
Question:
The following items are taken from the financial statements of Sandhill Co at December
Land $
Accounts receivable
Supplies
Cash
Equipment
Buildings
Land improvements
Notes receivable due in
Accumulated depreciationland improvements
Commonstock
Retained earnings December
Accumulated depreciationbuildings
Accounts payable
Mortgage payable
Accumulated depreciationequipment
Interest payable
Income taxes payable
Patents
Investments in stock longterm
Debt investments shortterm
Prepare a classified balance sheet. Assume that $ of the mortgage payable will be paid in List Current Assets in order of liquidity. List Property, Plant, and Equipment in order of Land, Buildings, Equipment, and Land Improvements.
Accounting Tools For Business Decision Making
ISBN: 9781119791058
8th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Jill E. Mitchell