90.2K

Verified Solution

Link Copied!

pls help, will give a good rating :))

Preparation of Balance Sheet Ari Company's December 31 post-closing trial balance contains the following normal balances: Cash $19,000 Accounts payable 20,000 Building 439,500 Long-term notes payable 785,000 Common stock 950,000 Retained earnings 75,000 Accumulated depreciation ---Equipment 180,000 Land 877,000 Accounts receivable 22,500 Accumulated depreciation-Building 135,000 Wages payable Patent (net of amortization) 120,000 Notes payable (short term) 131,000 Inventory 206,000 Equipment 600,000 Allowance for doubtful accounts 2,000 6,000 $ Prepare a December 31 classified balance sheet for Ari Company. Do not use negative signs with any of your answers. ARI COMPANY Balance Sheet December 31 Assets Current Assets: Cash 0 Accounts Receivable 0 Less: Allowance for Doubtful Accounts 0 0 Inventory Total Current Assets Plant Assets: Land Building 0 Accumulated Depreciation 0 Equipment 0 Accumulated Depreciation Total Plant Assets Intangible Assets: . 0 0 0 1) ol 0 . 0 $ 0 Total Assets Liabilities Current Liabilities: . $ 0 0 0 Wages Payable Notes Payable (short term) Total Current Liabilities Long-Term Liabilities: 0 > 0 0 Total Liabilities Stackholders' Fauty > 0 0 0 Equipment Accumulated Depreciation Total Plant Assets Intangible Assets: 0 0 4A 0 Total Assets Liabilities Current Liabilities: $ Wages Payable Notes Payable (short term) Total Current Liabilities Long-Term Liabilities: 0 0 0 Total Liabilities Stockholders' Equity: 0 0 0 Total Stockholders' Equity Total Liabilities and Stockholders' Equity Please answer all parts of the question. $ 0

Answer & Explanation Solved by verified expert

See Answer