Question

The following items were taken from the financial statements of Bridgeport Company. (All amounts are in thousands.) $1,000 $6,000 810 1,600 300 11,500 Long-term debt Prepaid insurance Equipment Stock investments (long-term) Debt investments (short-term) Notes payable (due in 2023) Cash 400 Accumulated depreciation-equipment Accounts payable Notes payable (due after 2023) Common stock Retained earnings Accounts receivable Inventory 9,410 3,900 500 3,800 1,800 1,200 3,000 Prepare a classified balance sheet in good form as of December 31, 2022. (Enter amounts in thousands. List Current Assets in order of liquidity.)

Answer 1

2 3 4 5 6 7 $ 3000 $ 1600 8 1600 9 Bridgeport Company Balance sheet (amount in thousands ) December 31, 2022 Assets Current assets cash Short term investment Account receivable Inventory Prepaid insurance Total current assets Long term investments Stock investment Property, plant and equipment equipments Less Accumulated Dep. -equipments Total assets 3900 1800 1200 10 500 300 11 810 Liabilities Current liabilities Account payable Total current liability Long term liabilities Note payble (due in 2023) Note payble (due after 2023) 10710 Long term debts Total liability 400 Stockholders' equity comman stock retained earnings 5500 total stockholders equity 16610 Total liability and equity 12 1000 1800 13 14 400 15 9410 3800 16 13210 11500 6000 17 18 16610 19 20 NOTE - PLEASE UPVOTE IT SHALL BE A GREAT FAVOR THANKS 21