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Home / Questions / The December 31 2015 post-closing trial balance for Strong Corporation is presented below:...

The December 31 2015 post-closing trial balance for Strong Corporation is presented below: Debits Credits Cash $ 18500 Long-Term Investments 55,000 Accounts Receivable 26,500

The December 31, 2015, post-closing trial balance for Strong Corporation is presented below:

 

 

Debits

Credits

Cash

$  18,500

 

Long-Term Investments

55,000

 

Accounts Receivable

26,500

 

Prepaid Insurance

4,500

 

Supplies

100,000

 

Land

45,000

 

Buildings

277,500

 

Accumulated Depreciation

 

80,000

Accounts Payable

 

37,500

Notes Payable, due 2016

 

65,000

Interest Payable

 

10,000

Notes Payable, due 2028

 

120,000

Common Stock

 

150,000

Retained Earnings

 

64,500

        Totals

$527,000

$527,000

 

 

 

 

Prepare a classified balance sheet for Strong Corporation at December 31, 2015.

 

Jan 27 2020 View more View Less

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