Prepare a classified balance sheet for simon company at

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prepare a classified balance sheet for Simon Company at December 31, 2006.

From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006.

Accounts payable

$62,500

Accounts receivable

$123,000

Buildings

$418,500

Owners' equity, 1/1/06

$210,000

 


Cash

$179,750

Distributions to owners during 2006

$21,750

Supplies

$3,750

Land

$130,000

Mortgage payable

$479,500

Net income for 2006

$124,750

Owners' equity, 12/31/06

?

 

Reference no: EM13355893

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