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how would I prepare a classfied balance sheet with this ? Accounts payable $      40,000 Gain on...

how would I prepare a classfied balance sheet with this ?

Accounts payable

$      40,000

Gain on sale of equipment X

$        2,000

Accounts receivable

        50,000

Income tax expense X

          5,000

Accumulated depreciation - building

        10,000

Inventory

      100,000

Additional paid-in capital

      800,000

Interest expense X

          4,000

Allowance for uncollectible accounts

          5,000

Land

      200,000

Bonds payable, due in 2029

      800,000

Note payable, due 10/1/20

      100,000

Building

      641,000

Preferred stock

      300,000

Cash

   1,500,000

Prepaid insurance

          5,000

Common stock

      500,000

Rent expense X

        10,000

Cost of goods sold X

        50,000

Retained earnings, 1/1/19 X

        75,000

Current maturities of long-term debt

        40,000

Sales revenue X

      120,000

Deferred revenue

        50,000

Short-term investments X

      112,000

Depreciation expense X

          5,000

Supplies expense X

        15,000

Discount on bonds payable

        30,000

Treasury stock

      100,000

Dividends X

        15,000

Solutions

Expert Solution

ekkarill92 answered 1 year ago
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