Question

) Calibri 11 A A . BIŲ BarA-E Font Alignment Ideas Paste 45 $ - % 5080 Number Format as Table Cell Styles 22 Delete Format Cells Styles Editing Clipboard ideas 08 Accounts payable $876 Prepare a classified balance sheet for Oriole Company as of April 30, 2022. (List Current Assets in order of liquidity.) 2 Accounts receivable 3 Accumulated depreciation equipment 670 1,300 16,600 1,010 345 5 Common stock 6 Cost of goods sold 7 Depreciation expense 8 Dividends 9 Equipment 10 Goodwill 11 Income tax expense 12 Income taxes payable 13 Insurance expense 14 Interest expense 15 Inventory 16 Investment in land 4,500 18 Mortgage payable long-term) 19 Notes payable (short-term) 20 Prepaid insurance 21 Retained earnings (beginning) 22 Salaries and wages expense 23 Salaries and wages payable 24 Sales revenue 25 Stock Inwestments (short-term) Sheet1 + Type here to search

Answer 1

$1,300 $1,300 $820 $1,010 $50 $4,480 $14.610 $3.100 $1,770 $4.870 Oriole Company Balance Sheet As on April 30, 2022 Assets Current Assets Cash Stock investment (short term) Accounts Receivable Merchandise Inventory Prepaid Insurance Total Current Assets Investment in land Property Plant and Equipment Land Equipment $2.440 Less: Accumulated depreciation - equipment S670 Total Property Plant and Equipment Intangible Assets Goodwill Total Assets Liabilities and Owner's Equity Current liabilities Accounts Payable Notes Payable (Short term) Salaries and wages payable Income taxes payable Total current liabilities Long-term liabilities Mortgage Payable (long term) Total liabilities Stockholders' equity Common Stock Retained Earnings ($1,400 + $2,420 - $345) Total Shareholder's equity Total Liabilities & Owner Equity $1,900 $25,860 $876 $59 $220 $130 $1,285 $4.500 $5.785 $16,600 $3,475 $20.075 $25,860 $5.700 $1,010 $4.690 Workings: Oriole Company Income Statement For the year ended April 30, 2022 Sales Revenue Less: Cost of goods Sold Gross profit Less: Operating expenses Depreciation expense Income tax expense Salaries and wages expense Insurance expense Interest expense Net Income (Loss) $345 $185 $850 $290 $600 $2,270 $2,420