Prepare a classified statement of financial position; assume that $13,900 of the notes payable will…
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The following information is available for Karr Bowling Alley at December 31, 2012.
Buildings
$128,800
Owner’s Capital
$115,000
Accounts Receivable
14,520
Accumulated Depreciation—Buildings
42,600
Prepaid Insurance
4,680
Accounts Payable
12,300
Cash
18,040
Notes Payable
97,780
Equipment
62,400
Accumulated Depreciation—Equipment
18,720
Land
64,000
Interest Payable
2,600
Insurance Expense
780
Bowling Revenues
14,180
Depreciation Expense
7,360
Interest Expense
2,600
Prepare a classified statement of financial position; assume that $13,900 of the notes payable will be paid in 2013.
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