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Question - The following list of accounts and balances for Conestoga Limited are as at September 30, 2014.
Accounts Payable $11,000
Accounts Receivable 17,700
Automobile 35,000
Building 120,000
Cash 81,500
Common Shares 75,000
Current Portion of Bank Loan 15,000
Furniture 17,000
Inventory 30,000
Long-Term Portion of Bank Loan 135,000
Note Payable (due May 15, 2015) 8,000
Prepaid Insurance 2,300
Retained Earnings 59,500
Required: On the following page prepare a classified balance sheet in proper format.
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