Prepare a classified balance sheet in good form as of December 31, 2012. 1 answer below »
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The following items were taken from the financial statements of M. Wright Company. (All dollars are in thousands.)
Long-term debt
$ 1,000
Accumulated depreciation
5,655
Prepaid insurance
880
Accounts payable
1,444
Equipment
11,500
Notes payable (due after 2013)
400
Long-term investments
264
Owner’s capital
12,955
Short-term investments
3,690
Accounts receivable
1,696
Notes payable (due in 2013)
500
Inventory
1,256
Cash
$ 2,668
Instructions
Prepare a classified balance sheet in good form as of December 31, 2012.
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