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Prepare a classified balance sheet ignoring monetary amounts

01/05/2021 Client: muhammad11 Deadline: 2 Day

Presented below is a list of balance sheet accounts.

Accounts payable...................................................Cash

Accounts receivable..............................................Common stock

Accumulated depreciation—buildings...........Copyright (net)

Accumulated depreciation—equipment........Equipment

Allowance for uncollectible accounts..............Interest receivable (due in three months)

Restricted cash (to be used in 10 years).........Inventory

Bonds payable (due in 10 years).......................Land (in use)

Buildings.....................................................................Long-term investments

Notes payable (due in 6 months).....................Interest payable (current)

Notes receivable (due in 2 years).....................Retained earnings

Patent (net)................................................................Short-term investments

Additional paid-in capital.....................................Income taxes payable

Prepaid expenses.....................................................Salaries payable

Required:

Prepare a classified balance sheet
ignoring monetary amounts. Include headings for each classification, as well as titles for each classification’s subtotal. An example of a classified balance sheet can be found in the Concept Review Exercise at the end of Part A of this chapte

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