Sunday 7 October 2012


Exercise 4-16
The following items were taken from the financial statements of R. Stevens Company.
(All dollars are in thousands.)

Long-term debt $ 943 Accumulated depreciation $ 5,655
Prepaid expenses 880 Accounts payable 1,444
Property, plant, and equipment 11,500 Notes payable after 2009 368
Long-term investments 264 Common stock 10,000
Short-term investments 3,690 Retained earnings 3,063
Notes payable in 2009 481 Accounts receivable 1,696
Cash 2,668 Inventories 1,256

Instructions
Prepare a classified balance sheet in good form as of December 31, 2008




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