P5 1 (Preparation of a Classified Balance Sheet, Periodic Inventory) Presented below is a list of accounts in alphabetical order.
|
Accounts Receivable |
Land |
|
Accumulated Depreciation—Buildings |
Land for Future Plant Site |
|
Accumulated Depreciation—Equipment |
Loss from Flood |
|
Advances to Employees |
Notes Payable (due next year) |
|
Advertising Expense |
Patents |
|
Allowance for Doubtful Accounts |
Payroll Taxes Payable |
|
Bond Sinking Fund |
Pension Obligations |
|
Bonds Payable |
Petty Cash |
|
Buildings |
Preferred Stock |
|
Cash in Bank |
Premium on Bonds Payable |
|
Cash on Hand |
Paid in Capital in Excess of Par—Preferred Stock |
|
Cash Surrender Value of Life Insurance |
Prepaid Rent |
|
Commission Expense |
Purchases |
|
Common Stock |
Purchase Returns and Allowances |
|
Copyrights |
Retained Earnings |
|
Debt Investments (trading) |
Sales |
|
Dividends Payable |
Sales Discounts |
|
Equipment |
Salaries and Wages Expense (sales) |
|
Gain on Sale of Equipment |
Salaries and Wages Payable |
|
Interest Receivable |
Transportation in |
|
Inventory—Beginning |
Treasury Stock (at cost) |
|
Inventory—Ending |
Unearned Subscriptions Revenue |
Instructions
Prepare a classified balance sheet in good form.