Prepare classified balance sheet

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Reference no: EM131286791

The following information is available for beth company at December 31, 2016. 7% long term note payable = 230,000. accounts payable= 220,000. accounts recievable = 102,000. accumulated depreciation = 109,600. allowance for doubtful accounts= 5,800. buildings and equipment= 400,000. Capital stock $2 par, authorized 400,000 shares, issued and outstanding shares 30,000= 60,000. cash on hand= 44,825. cash surrender value of life insurance policies long term benefit= 10,800. current installment of long term debt 7% note=20,000. depreciation expense= 19,900. discontinued operational loss= 42,000. dividends recieved as revenue= 4,500. error in inventory pricing in 2012= 12,500. income taxes payable (current)= 36,625. inventories at fifo cost ( with a market value of 352,000)= 332,600. long term note recievable- advances to subsidary= 50,000. paid in capital in excess of par=155,200. patents= 58,500. retained earnings- ending 12/31/16 (adjusted)= 232,800. sales= 450,000. sales return and allowances= 3,100. short term investment- us treasury bill- 60 day duration= 26,000. short term pre payments of expenses= 3,500. tradidng marketable securities( listed at cost, with a market value of 51,800) = 58,500. uncollectable account expense= 12,000. unearned revenue= 10,000. prepare a classified balance sheet showing all necessary information. notes are not required as of 12/31/16. accounts are listed in alphabetical order.

Reference no: EM131286791

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