Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1. Accounts receivable $ 41,610 Accounts payable 7,315 Cash 16,120 Common stock 42,000 Land 17,000 Long-term notes payable 20,350 Merchandise inventory 30,750 Retained earnings 35,815

Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1. Accounts receivable $ 41,610 Accounts payable 7,315 Cash 16,120 Common stock 42,000 Land 17,000 Long-term notes payable 20,350 Merchandise inventory 30,750 Retained earnings 35,815

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Question

Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1.


Accounts receivable	$	41,610
Accounts payable		7,315
Cash		16,120
Common stock		42,000
Land		17,000
Long-term notes payable		20,350
Merchandise inventory		30,750
Retained earnings		35,815

Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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