2-2 Homework Chapter 3.docx - 2-2 Homework Chapter 3 1 The...

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2-2 Homework Chapter 31. The following is a December 31, 2018, post-closing trial balance for Culver City Lighting, Inc.Account TitleDebitsCredits Cash73,000Accounts receivable57,000Inventories63,000Prepaid insurance33,000Equipment140,000Accumulated depreciation—equipment52,000Patent, net58,000Accounts payable21,000Interest payable11,000Note payable (due in 10, equal annual installments)190,000Common stock88,000Retained earnings62,000Totals424,000424,000Prepare a classified balance sheet for Culver City Lighting, Inc. (Amounts to be deducted should be indicated by a minus sign.)

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