Please create a classified balance sheet in good

by | Mar 18, 2020 | Uncategorized

  

Cash

$500,000

Accounts Receivable

200,000

Supplies

70,000

Accounts Payable

147,300

Unearned Service Revenue

18,000

Equipment, net of accumulated depreciation

212,000

Common Stock

500,000

Retained Earnings 12/31/2011

78,300

Long-term debt

142,400

Service revenue

240,000

Cost of Goods Sold

72,000

Rent expense

36,000

Supplies expense

12,000

Insurance expense

24,000

Instructions

(a) Please create a classified balance sheet in good form for the year ended 2012. (25 points)

(b) Please calculate the current ratio. (5 points)
  

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