Business, 11.09.2019 00:20, hannahs1313
The december 31, 2011, post closing trial balance in thousands for libby corporations is preseted below
debit credit
cash 22,500
investments 55,000
accouts recievable 30,000
allownnce for uncollectible accounts 7,500
prepaid insurance 4,500
inventories 100,000
land 45,000
buildings 140,000
accumulated depreciation-buildings 50,000
equipment 132,500
accumulated depreciation-equipment 30,000
patents(unamortized balance) 5,000
accounts payable 37,500
notes payable, due 2012 65,000
interest payable 10,000
bonds payable due 2021 120,000
common stock 150,000
retained earnings 64,500
total 534,500 534,500
prepare a classified balance sheet for libby corporation at december 31,2011
Answers: 3
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