The following is a December 31, 2013, post-closing trial balance for the Jackson Corporation.
Required:
Prepare a classified balance sheet for Jackson Corporation at December 31, 2013.
Answer:
JACKSON CORPORATION
Balance Sheet
At December 31, 2013
Assets
Current assets:
Cash ....................................................................................... $ 40,000
Marketable securities ............................................................. 10,000
Accounts receivable ............................................................... 34,000