Essay
The financial statement columns of the worksheet for Maximum Effort at December 31 2016 are as follows: 
Instructions
(a) Calculate the balance of Owner's Capital that would appear on a balance sheet at December 31 2016.
(b) Prepare a classified balance sheet for Maximum Effort at December 31 2016 assuming the note payable is a long-term liability.
Correct Answer:
Verified
Correct Answer:
Verified
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