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Prepare classified balance sheet in good form as at December

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Reference no: EM133121968

Question - The following items were taken from the financial statements of J. Carla Vista Company on December 31, 2021. (All amounts are in thousands.)

Long-term debt

$900

Accumulated depreciation-equipment

$5,645

Prepaid insurance

920

Accounts payable

1,434

Equipment

11,430

Notes payable (due after 2022)

500

Long-term investments

144

J. Carla Vista, capital

12,035

Short-term investments

3,640

Accounts receivable

1,206

Notes payable (due in 2022)

590

Merchandise inventory

1,206

Cash

2,558

Required - Prepare a classified balance sheet in good form as at December 31, 2021.

Reference no: EM133121968

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