Question: Using the following data, prepare a classified balance sheet for Blanchard Company as of December 31, 2010. Cash $ 200 Accumulated Depreciation Building $ 1,000

Using the following data, prepare a classified balance sheet for Blanchard Company as of December 31, 2010. Cash $ 200 Accumulated Depreciation Building $ 1,000 Investments in Short-Term Government Securities 400 Franchise 1,800 Accounts Receivable 800 Accounts Payable 1,600 Inventory 3,000 Revenues Received in Advance 400 Prepaid Rent 100 Notes Payable (in two years) 4,000 Investment in Land Held for future use 2,700 John Blanchard, Capital 12,000 Land 2,000 Building 8,000

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