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An analysis of transactions made during July by NepCo, an Internet service provider, during its first month of operations is
14. 3.0/ 2-c. Prepare a classified balance sheet as of July 31. NEPCO Balance Sheet
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Answer #1

Classified balance sheet

Assets
Current assets
Cash 4215
Account receivable 4340
Supplies 700
Total Current assets 9255
Property, plant and equipment
Equipment 14650
total assets 23905
Liabilities and stockholder's equity
Current liabilities
Account payable 3075
Stockholder's equity
Common Stock 19000
Retained earnings 1830
Total Stockholder's equity 20830
Total Stockholder's equity 23905
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