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Prepare a classified balance sheet for July 31, 2022. (List Current assets in order of...

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Accounting

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Prepare a classified balance sheet for July 31, 2022. (List Current assets in order of liquidity.) SHERIDAN COMPANY Balance Sheet July 31, 2022 ASSETS Current Assets ! Expenses $ LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES AND STOCKHOLDERS' EQUITY $ $ $ The accounts in the ledger of Sheridan Company contain the following balances on July 31, 2022. Accounts Receivable $12,300 Prepaid Insurance $1,600 Accounts Payable 7,500 Maintenance and Repairs Expense 1,600 Cash 16,680 Service Revenue 16,900 Equipment 60,800 Dividends 650 Gasoline Expense 970 Common Stock 40,000 Insurance Expense 520 Salaries and Wages Expense 8,400 Notes Payable, due 2024 31,700 Salaries and Wages Payable 1,000 Retained Earnings (July 1, 2022) 6,420

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