Classified balance sheet in good form

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Reference no: EM13915561

Interest receivable	102,630	Rent payable	43,000
Salaries Payable	173,000	Inventory	227,800
Bonds payable	370,000	Equipment	3,114,000
Common stock, $1 par	205,000	Income taxes payable	105,000
Accounts payable	485,000	Notes payable (long-term)	2,065,000
Cash	355,000	Preferred stock, $10 par	145,000
Land	484,000	Prepaid expenses	91,920
Notes receivable	445,700	Current maturities LT debt	265,000
Goodwill	$121,000	Equity investments, trading	121,000
Retained earnings	713,850	Accumulated depreciation	$558,200
Discount on bonds payable	65,000


Prepare a classified balance sheet in good form. Assume that notes receivable and notes payable are
short-term, unless stated otherwise. Cost and fair value of equity investments (trading) are the same.

Reference no: EM13915561

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