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Adams Company reports the following balance sheet accounts as of December 31. Salaries payable...

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Question

Accounting

Adams Company reports the following balance sheet accounts as of December 31.
Salaries payable
Buildings
Prepaid rent
Merchandise inventory
Accounts payable
Prepaid insurance
Accounts receivable
$ 7,7000. Adams, Capital
82,290 Notes payable (due in 9 years)
8,7e office supplies
17,490 Land
27,090 Accumulated depreciation-Building
6,400 Mortgages payable (due in 5 years)
21,000 cash
$94,000
64,000
5,400
56,000
8,400
46,000
50,000
Required:
Prepare a classified balance sheet.
\table[[ADAMS COMPANY],[Balance Sheet],[December 31],[Assets]]
Current assets
Plant assets
image

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