Prepare in good form a classified balance sheet

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Question - On March 31 2020, the adjusted year-end account balances of Pacific West Company were as follows:

Accounts Payable $32,500

Equipment $140,000

Accounts Receivable 26,000

Interest Revenue 4,400

Accumulated Depreciation 24,000

Merchandise Inventory 52,500

Depreciation Expense 8,000

Rent and Utilities Expense 77,000

Cash 7,000

Salaries Expense 236,000

Cost of Goods Sold 599,700

Sales 1,010,000

Sue Roberts, Capital 133,000

Sales Discounts 2,7,700

Sue Roberts, Withdrawals 30,000

Required - Prepare, in good form, a classified Balance Sheet. Pacific West Company uses the perpetual inventory method. Will need to calculate the new balance for the capital account?

Reference no: EM132805327

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