ACC307 Answer #2 - Assignment Print View Score 48.17 Page 1 of 5 out of 50 points(96.34 http\/ezto.mheducation.com\/hm.tpx?todo=printviewSingle Assignment

ACC307 Answer #2 - Assignment Print View Score 48.17 Page 1...

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Score: 48.17 out of 50 points (96.34%) Page 1 of 5 Assignment Print View 5/18/2015
1.award:14.83 out of16.66 pointsThe following is a December 31, 2013, post-closing trial balance for Culver City Lighting, Inc.Account TitleDebitsCreditsCash64,000Accounts receivable48,000Inventories54,000Prepaid insurance24,000Equipment120,000Accumulated depreciation—equipment43,000Patent, net49,000Accounts payable16,500Interest payable6,500Note payable (due in 10, equal annual installments)150,000Common stock79,000Retained earnings64,000Totals359,000359,000Prepare a classified balance sheet for Culver City Lighting, Inc. Page 2 of 5 Assignment Print View 5/18/2015
*Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. $ $ $ $ $ $ CULVER CITY LIGHTING, INC. Balance Sheet At December 31, 2013 Assets Current assets: Cash 64,000 Inventories 54,000 Prepaid insurance 24,000 Accounts receivable 48,000 Total current assets 190,000 Property, plant, and equipment: Equipment

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