Asked on 24 Feb 2020

The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2018, the end of its fiscal year: cash, $16,000; accounts receivable, $11,000; inventories, $25,000; equipment (net), $80,000; accounts payable, $14,000; wages payable, $9,000; interest payable, $1,000; note payable (due in 18 months), $30,000; common stock, $50,000.

Prepare a classified balance sheet for K and J Nursery, Inc. The equipment originally cost $140,000. (Amounts to be deducted should be indicated by a minus sign.)
  

Answered on 24 Feb 2020

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