Hello,Please solve this using the proper order of "categories"(assets, liabilities and srockholders equity), including the proper order for the information inside each category. Thanks Listed below (in random order) are all of the December 31, 2017 balance sheet accounts of the McCain Company.Land$10,5002,400Sinking fund for bond retirementDiscount on bonds payableEquipmentPreferred stock, $100 parAccumulated depreciation, buildingsInvestment in bonds held to maturityAccrued wagesAdditional paid-in capital on common stockBuildingsBonds payable (due 2020)Office suppliesRetained eamings90014,0005,0005,5004,0001,9503,50017,50013,00075014,15010,0007,6505,650InventoryAccounts receivableAccounts payablePrepaid insuranceCommon stock, $10 parAllowance for doubtful accountsInterest payable9006,7502501,5004,5001,150750CashTreasury stock (at cost)Dividends payableAdditional paid-in capital on preferred stockNotes payable (due 1/1/20)1,0008,000 Preferred stock, $100 parAccumulated depreciation, buildingsInvestment in bonds held to maturityAccrued wagesAdditional paid-in capital on common stockBuildingsBonds payable (duc 2020)Office suppliesRetained carnings5,0005,5004,0001,9503,50017,50013,00075014,15010,0007,6505,650900InventoryAccounts receivableAccounts payablePrepaid insuranceCommon stock, $10 par6,7502501,5004,5001,150Allowance for doubtful accountsInterest payableCashTreasury stock (at cost)Dividends payableAdditional paid-in capital on preferred stockNotes payable (due 1/1/20)Income taxes payable (current)Accumulated depreciation, equipment7501,0008,0003,0004,250Required:Prepare a properly classified balance sheet for the McCain Company on December 31, 2017.

Balance sheet presents the financial position of business at any particular date. The components of…

Answered: Required: Prepare a properly classified…

Business

Accounting

Required: Prepare a properly classified balance sheet for the McCain Company on December 31, 2017.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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