Based on the adjusted trial balance shown below,prepare a classified balance sheet for Focus Package Delivery.

* $2,000 of the long-term note payable is due during the next year.

Question

Based on the adjusted trial balance shown below,prepare a classified balance sheet for Focus Package Delivery.
  
* $2,000 of the long-term note payable is due during the next year.

Quizplus · Accepted Answer

*Net income = $145,000 - $8,000 - $62,000 - $2,500 - $4,050 - $1,000 - $3,750 = $63,700
Retained earnings = $30,400 + $63,700 - $15,000 = $79,100

Based on the Adjusted Trial Balance Shown Below,prepare a Classified