Desi Company, a merchandising firm, reports the following da…
Desi Company, a merchandising firm, reports the following data as of January 31: Stockholders’ equity $5,700 Property, plant, and equipment 10,000 Inventory 3,500 Accounts receivable 1,200 Other current liabilities 600 Accounts payable 800 Long-term notes payable 8,000 Cash 400 Prepare a classified balance sheet for Desi Company as of January 31. DESI COMPANY Balance Sheet January 31 Assets Liabilities & Stockholders’ Equity Current Assets: Current Liabilities: Cash Accounts payable Accounts receivable Other current liabilities Inventory Total Current Assets Total Current Liabilities Noncurrent Assets: Noncurrent Liabilities: Property, plant & equipment Long-term notes payable Total Noncurrent Assets Total Noncurrent Liabilities Stockholders’ equity Total Assets Total Liabilities & Stockholders’ Equity