Answer:
Explanation:
The presentation of the classified balance sheet is presented below:
Spotlighter, Inc.
Classified balance sheet
For the month of January
Assets Amount Liabilities & Stockholder Equity Amount
Cash $9,170 Notes payable $6,390
Supplies $2,100 Account payable $1,250
Total current assets $11,270 Total current liabilities $7,640
Long term Asset Stockholder equity
Equipment $2,100 Common stock $5,730
Total long term equipment $2,100 Total owner equity $5,730
Total Assets $13,370 Total liabilities
and owners equity $13,370
The computation is shown below:
For cash
= $5,040 + $5,730 - $750 - $850
= $9,170
For supplies
= $850 + $1,250
= $2,100
For notes payable
= $2,100 - $750 + $5,040
= $6,390
