These items are taken from the financial statements of Pina Corporation for 2022.Retained earnings (beginning of year) $32,560Utilities expense 2,150Equipment 67,560Accounts payable 21,790Cash 11,480Salaries and wages payable 6,130Common stock 12,000Dividends 12,000Service revenue 72,550Prepaid insurance 6,630Maintenance and repairs expense 1,650Depreciation expense 3,420Accounts receivable 15,190Insurance expense 2,380Salaries and wages expense 41,550Accumulated depreciation—equipment 18,980 Prepare a classified balance sheet as of December 31, 2022. (List Current Assets in order of liquidity.)

Name: These items are taken from the financial statements of Pina Corporatio
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Description: These items are taken from the financial statements of Pina Corporation for 2022.Retained earnings (beginning of year) $32,560Utilities expense 2,150Equipment 67,560Accounts payable 21,790Cash 11,480Salaries and wages payable 6,130Common stock 12,000

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Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter2: Analyzing Transactions

Section: Chapter Questions

Problem 23E: The following data (in millions) are taken from the financial statements of Target Corporation: a....

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These items are taken from the financial statements of Pina Corporation for 2022.

Retained earnings (beginning of year)		$32,560
Utilities expense		2,150
Equipment		67,560
Accounts payable		21,790
Cash		11,480
Salaries and wages payable		6,130
Common stock		12,000
Dividends		12,000
Service revenue		72,550
Prepaid insurance		6,630
Maintenance and repairs expense		1,650
Depreciation expense		3,420
Accounts receivable		15,190
Insurance expense		2,380
Salaries and wages expense		41,550
Accumulated depreciation—equipment		18,980

Prepare a classified balance sheet as of December 31, 2022. (List Current Assets in order of liquidity.)

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