These items were taken from the financial statemBuildingsAccounts receivablePrepaid insuranceCashEquipmentLandInsurance expenseDepreciation expenseInterest expense(a)$116,380Common stock (22,000 shares)Retained earnings (1/1/22)3,520 Accumulated depreciation-buildingsAccounts payableNotes payable17,16012,98090,98667,1007705,3902,420panyAccumulated depreciation-equipmentInterest payableService revenue$66,00044,00050,3809,350102,96020,5863,96019,470Prepare a classified balance sheet. Assume that $17,930 of the note payable will be paid in 2022. (List Current Assets in order ofliquidity. List Property, Plant, and Equipment in order of Land, Buildings and Equipment.)ORIOLE COMPANYBalance Sheet

The balance sheet is one of the important financial statements of the business. It represents the…

Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense $116,380 Common stock (22,000 shares) Retained earnings (1/1/22) Accumulated depreciation-buildings 17,160 A 3,520 12,980 90,986 Notes payable 67,100 770 5,390 Accounts payable 2,420 Accumulated depreciation-equipment Interest payable Service revenue $66,000 44,000 50,380 9,350 102,960. 20,586 3,960 19,470

Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense $116,380 Common stock (22,000 shares) Retained earnings (1/1/22) Accumulated depreciation-buildings 17,160 A 3,520 12,980 90,986 Notes payable 67,100 770 5,390 Accounts payable 2,420 Accumulated depreciation-equipment Interest payable Service revenue $66,000 44,000 50,380 9,350 102,960. 20,586 3,960 19,470

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter8: Liabilities And Stockholders' Equity

Section: Chapter Questions

Problem 8.1.2MBA

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