Given the Following Balances for Garvey Company on December 31

Essay

Given the following balances for Garvey Company on December 31, 20X5, prepare a classified balance sheet. $\begin{array}{ll}\text { Accumulated depreciation } & \$ 21,800 \\\text { Accounts p ayable } & 11,200 \\\text { Accounts receivable } & 9,800 \\\text { Additional paid-in capital } & 24,000 \\\text { C apital stock } & 6,000 \\\text { Cash } & 7,400 \\\text { Fixed ass ets } & 89,400 \\\text { Interest p ayable } & 2,400 \\\text { Inventory } & 13,600 \\\text { Long-term note payable } & 28,000 \\\text { Prep aid rent } & 2,500 \\\text { Retained earnings } & 22,900 \\\text { Wages payable } & 6,400\end{array}$


Answer:
Garvey Company Balance Sheet
December $31,20 \times 5$