Chapter 3.pdf - Assignment Print View Score...

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10/2/2017Assignment Print View1/5Score:50/50Points100%
10/2/2017Assignment Print View2/51.Award: 16.66 out of 16.66 pointsThe following is a December 31, 2013, post-closing trial balance for Culver City Lighting, Inc.Account TitleDebitsCreditsCash57,000 Accounts receivable41,000 Inventories47,000 Prepaid insurance17,000 Equipment120,000 Accumulated depreciation—equipment36,000 Patent, net42,000 Accounts payable13,000 Interest payable3,000 Note payable (due in 10, equal annual installments)120,000 Common stock72,000 Retained earnings80,000 Totals324,000 324,000 Prepare a classified balance sheet for Culver City Lighting, Inc.
10/2/2017Assignment Print View3/5CULVER CITY LIGHTING, INC.Balance SheetAt December 31, 2013AssetsCurrent assets:Cash$57,000Accounts receivable41,000Inventories47,000Prepaid insurance17,000Total current assets162,000Property, plant, and equipment:Equipment$120,000Less: Accumulated depreciation(36,000)

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