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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The following items were taken from the financial statements of P. Cullumber Company. (All amounts are in thousands.)
Prepare a classifiedbalance sheet in good form as of December 31, 2022. (List Current Assets in order of liquidity. Enter amounts in thousands.)
Long-term debt
|
$1,000 |
|
$5,900 | |||
---|---|---|---|---|---|---|
Prepaid insurance
|
880 |
Accounts payable
|
1,100 | |||
Equipment
|
11,300 |
Notes payable (due after 2023)
|
500 | |||
Stock investments (long-term)
|
200 |
Owner’s capital
|
11,580 | |||
Debt investments (short-term)
|
3,400 |
|
1,600 | |||
Notes payable (due in 2023)
|
600 |
Inventory
|
1,200 | |||
Cash
|
2,100 |
Prepare a classified
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