PA1. 11.1 Selected accounts from Phipps Corporation's trial balance are as follows. Prepare the assets section of the company's balance sheet. | PHIPPS CORPORATION Trail Balance December 31 (Selected Accounts) Debit Credit Cash $ 50,000 Short-term Marketable Securities 25,000 Accounts Receivable 13,000 Inventories 45,000 Other current Assets 10,000 100,000 45,000 Land Equipment Accumulated Depreciation: Equipment $5,000 Goodwill 20,000 Other Intangible Assets 15,000

PA1. 11.1 Selected accounts from Phipps Corporation's trial balance are as follows. Prepare the assets section of the company's balance sheet. | PHIPPS CORPORATION Trail Balance December 31 (Selected Accounts) Debit Credit Cash $ 50,000 Short-term Marketable Securities 25,000 Accounts Receivable 13,000 Inventories 45,000 Other current Assets 10,000 100,000 45,000 Land Equipment Accumulated Depreciation: Equipment $5,000 Goodwill 20,000 Other Intangible Assets 15,000

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Description: PA1. 11.1 Selected accounts from Phipps Corporation's trial balance are as follows. Prepare the assetssection of the company's balance sheet.PHIPPS CORPORATIONTrail BalanceDecember 31(Selected Accounts)DebitCreditCash$ 50,000Short-term Marketable Se

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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