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The following items were taken from the financial statements of P. Cullumber Company. (All amounts are in thousands.) Long-term debt   $1,000   Accumulated depreciation—equipment   $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   Accounts receivable   1,600 Notes payable (due in 2023)   600   Inventory   1,200 Cash   2,100         Prepare a classified balance sheet in good form as of December 31, 2022. (List Current Assets in order of liquidity. Enter amounts in thousands.)

The following items were taken from the financial statements of P. Cullumber Company. (All amounts are in thousands.) Long-term debt   $1,000   Accumulated depreciation—equipment   $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   Accounts receivable   1,600 Notes payable (due in 2023)   600   Inventory   1,200 Cash   2,100         Prepare a classified balance sheet in good form as of December 31, 2022. (List Current Assets in order of liquidity. Enter amounts in thousands.)

FINANCIAL ACCOUNTING
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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The following items were taken from the financial statements of P. Cullumber Company. (All amounts are in thousands.)

Long-term debt
   $1,000  
Accumulated depreciation—equipment
   $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  
Accounts receivable
   1,600
Notes payable (due in 2023)
   600  
Inventory
   1,200
Cash
   2,100        

Prepare a classified balance sheet in good form as of December 31, 2022. (List Current Assets in order of liquidity. Enter amounts in thousands.)
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