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Exercise 4-19 (Algo) Preparing a classified balance sheet for a merchandi Adams Company reports the following balance sheet accounts as of December 31. Salaries payable Buildings Prepaid rent Merchandise inventory Accounts payable Prepaid insurance Accounts receivable Common stock $ 6,300 Retained earnings 59,800 Notes payable (due in 9 years) 7,300 Office supplies 14,600 Land 13,000 Accumulated depreciation-Building 3,600 Mortgages payable (due in 5 years) 7,000 Cash 16,000 Required: Prepare a classified balance sheet. ADAMS COMPANY Balance Sheet December 31 Assets Current assets Total current assets Plant assets Total plant assets Total assets Liabilities ADAMS COMPANY Balance Sheet December 31 Assets Current assets Total current assets Plant assets Total plant assets Total assets Liabilities Current liabilities Total current liabilities Long-term liabilities Total long-term liabilities Total liabilities Equity Total current assets Plant assets Total plant assets Total assets Liabilities Current liabilities ces Total current liabilities Long-term liabilities Total long-term liabilities Total liabilities Equity Total equity Total liabilities and equity Exercise 4-19 (Algo) Preparing a classified balance sheet for a merchandiser LO P4 Adams Company reports the following balance sheet accounts as of December 31. Salaries payable Buildings Prepaid rent Merchandise inventory Accounts payable Prepaid insurance Accounts receivable Common stock $ 6,300 Retained earnings 59,800 Notes payable (due in 9 years) 7,300 Office supplies 14,600 Land 13,000 Accumulated depreciation-Building 3,600 Mortgages payable (due in 5 years) 7,000 Cash 16,000 $ 50,000 36,000 2,600 28,000 5,600 18,000 22,000 Required: Prepare a classified balance sheet. ADAMI Adams Company reports the following balance sheet accounts as of December 31. Salaries payable Buildings Prepaid rent Merchandise inventory Accounts payable Prepaid insurance Accounts receivable Common stock $ 6,300 Retained earnings 59,800 Notes payable (due in 9 years) 7,300 Office supplies 14,600 Land 13,000 Accumulated depreciation-Building 3,600 Mortgages payable (due in 5 years) 7,000 Cash 16,000 $ 50,000 36,000 2,600 28,000 5,600 18,000 22,000 Required: Prepare a classified balance sheet. ADAMS COMPANY Balance Sheet December 31 Assets Current assets Total current assets Plant assets

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