Preparing a Classified Balance Sheet From the following accounts, listed in alphabetical order, prepare a classified balance sheet for Berkly Wholesalers as of December 31, 2013. All accounts have normal balances.
| Accounts Payable | $43,700 | Inventory | $117,700 |
| Accounts Receivable | 40,000 | Land | 45,700 |
| Building | 67,000 | Mortgage Payable (long term) | 78,700 |
| Cash | 26,700 | Office Supplies | 2,700 |
| Common Stock | 111,700 | Retained Earnings | ? |
| Salaries Payable | 7,700 |
| BERKLY WHOLESALERS Balance Sheet December 31, 2013 | |||||||
|---|---|---|---|---|---|---|---|
| Assets | Liabilities & Stockholders’ Equity | ||||||
| Current Assets: | Current Liabilities: | ||||||
| $ | $ | ||||||
| Salaries payable | |||||||
| Inventory | Total Current Liabilities | ||||||
| Total Current Assets | Long-Term Liabilities: | ||||||
| Long-term Assets: | Total Long-term Liabilities: | ||||||
| Building | Total Liabilities | ||||||
| Total Long-Term Assets | |||||||
| Stockholders’ Equity: | |||||||
| Total Stockholders’ Equity | |||||||
| Total Assets | $ | Total Liabilities and Stockholders’ Equity | $ | ||||
